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Benedicte Gravrand, Opalesque Geneva:
Global macroeconomic uncertainty has driven bond yields to record low and global risk premia to all time highs. AlphaParity’s new fund, the All-Weather Strategy, which is to be launched this week, is designed to capture those very risk premia.
The fund is fundamental with a momentum bias, and it focuses on value, carry and momentum across the four major asset classes, namely equities, fixed income, FX and commodities through highly liquid exposures. It also has a Tail Opportunities Overlay to profit from extreme market dislocations. The goal is to generate a 1.2 net Sharpe ratio. The AuM cannot be disclosed but apparently there are some institutional backers and committed long-term locked-up money.
Steve Gross, the founder and CIO of the new firm, New York-based AlphaParity , is investing a significant portion of his net worth in his new business. He has twelve years of experience in the hedge fund industry; he was previously portfolio manager at Tudor Investments and before that, partner at Penso Capital Markets , and fund manager at Millennium. He founded AlphaParity based on a theory which he explained to Opalesque.
"In 1987, the market crashed and the next day the market changed the way it perceived and thus priced risk," he started. "P...................... To view our full article Click here
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