|
By Benedicte Gravrand, Opalesque London:
Pure Capital, a New Zealand-based quant manager, is to launch the Pure Protection Fund. The simply named fund aims to provide protection to portfolios during equity bear markets, whilst maintaining or improving returns in bull market environments.
The Pure Protection Fund will start trading on 1 July 2009 and will use only liquid, listed derivatives on recognized exchanges - primarily equity index and commodity derivative products. Pure Capital has been running a similar strategy via a managed accounts structure since 2007, generating cash returns of 79% in 2008, and 21% YTD in 2009. The capacity for the new fund is US$500m.
Anthony Limbrick, CIO of Pure Capital said: "The only thing that is sure to rise in a bear market is correlation, and this is a complex problem for investment managers, even those with well diversified portfolios. At Pure, our focus is on targeted non-correlated returns, and this lies at the core of The Pure Protection Fund - our new institutional grade product".
Directing addressing a portfolio problem
Anthony Limbrick told Opalesque: "because we are based in New Zealand, which is on the other side of the planet, and it is hard to raise money here, we have tried very hard to find out what opportunities are there for us to raise funds and especially to find and to solve clients' problems."
Pure Capital, in its search for the identification and the best soluti...................... To view our full article Click here
|
RSS
