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By Beverly Chandler, Opalesque London:
For one veteran London based hedge fund group, the experience of surviving the depths of the credit crisis in 2008, revealed a path to the future. Melissa Hill is the Managing Principal of Sabre Fund Management, the firm she joined in 1996, but which had been founded as one of London’s first commodity trading adviser firms in 1982.
As she says, "it was a very different business then and it was a nursery ground for some of the brightest talents in our industry today." Both David Harding and Martin Hunt of Winton Capital and Altis’s Zbigniew Hermaszewski worked at Sabre in its first incarnation. 1996 saw the firm enter the quantitative equity space following a corporate restructuring that brought Hill into the firm and saw the launch of Sabre Market Neutral, a pairs trading strategy. 2002 saw the launch of the Sabre Style Arbitrage fund devised and managed by Dan Jelicic. "Mean reversion plays are just one opportunity set. We knew that we wanted to offer our investors a broader based strategy. By combining mean reversion models with fundamental factor portfolios and dynamic style timing you have, de facto, three alpha engines, each capable of adding value in their own right, in varying quantities, according to market conditions. Therefore, a best equity quant ideas fund" says Hill.
Sabre Style Arbitrage has annualised returns of 8.5%, a figure that does not show the historical strength of its returns. A higher ri...................... To view our full article Click here
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