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From Kirsten Bischoff, Opalesque New York:
Emerging markets are where ClearStream Investments has lately seen its models signifying the strongest beta opportunities, compared to other global markets. “Brazil, Mexico, and countries tied to commodities, we have trafficked quite a bit in those lately,” says Marco Bitran, co-Founder and Portfolio Manager at the firm.
ClearStream, which was up until recently known as GMB Capital, has rebranded after hitting $500m in assets, and hiring former Mount Yale Capital Group’s Director of Research Rohit Vohra as CEO.
Bitran, who co-founded the firm in 2005 with his father, Professor Gabriel Bitran, former Deputy Dean of the MIT Sloan School, has developed the fund around a quant model that was built largely on the principles of optimal pricing developed by Professor Bitran. In basic terms, the strategy is focused on positive beta capture, and invests in a universe of approximately 50 liquid ETFs. The model tracks supply and demand for equity pricing, and the strategy, which trades once a day, estimates when risk level is low, and then without using leverage, buys shares in various ETFs. Although there is a certain level of emerging markets exposure built into the strategy, due to the active nature of the beta markets in those countries.
“It is an interesting exposure for clients,” says Marco Bitran. “Some investors hesitate to step into emerging...................... To view our full article Click here
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