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Dr. Michel Dominice Benedicte Gravrand, Opalesque Geneva:

The Cassiopeia Fund, a volatility arbitrage fund, was launched in 2003, after years of research done by the fund's founder, Dr. Michel Dominicé. This fund profit s from markets' irrational moves and proves through its performance that a rational approach to irrationality can lead to high reward.

Indeed, the Share Class B of the fund, which runs $689m, returned 25% in 2012, after annualising 15% since its August 2004 inception. The HFRX Volatility Index returned 9.7% in 2012, and the Lyxor Convertible Bonds & Volatility Arbitrage Index advanced 4.5%.

Run from the Geneva offices of Dominicé & Co, the Cassiopeia fund has kept a low profile over the years, until it won an award last year as the best Swiss single hedge fund. Cassiopeia was apparently also the only volatility trader to make Barron's 2011 top 100 Hedge Fund Survey, on which it ranked 49th. The firm is now moving up a gear in terms of visibility.

Statistically significant market bias

Dr. Dominicé, who studied political economy at the University of St. Gallen, had alwa......................

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