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Bailey McCann, Opalesque New York: In early 2014, Alex Rabinovich, Managing Director of Chessica Asset Management, announced that the firm he co-founded with Victor Plotkin in 2009, had been acquired by Mosaic Investment Partners. Mosaic is a Washington, DC-based diversified financial services firm with expertise in asset management, wealth management and investment banking.
As part of that acquisition, they launched a new hedge fund - the Mosaic Premium Fund, as Opalesque reported at the time. Both managers are Russian nationals and former chess masters, and the Premium Fund strategy is based off of an options strategy they've traded in separately accounts for some 20 years.
Now, the original Chessica strategy has also re-opened to investors under the Mosaic banner. According to a note sent to investors, obtained by Opalesque, due to investor demand the Chessica flagship strategy will now be re-named Mosaic Premium Equity Fund, and re-opened to investors on March 1. The fund has a five year track record and uses the same index option premium strategy as Mosaic Premium Fund, but also includes an S&P 500 index component.
The strategy maintains a portfolio delta hovering near neutral and has a year-to-date performance of 3.03%. Overall returns over the past five years have consistently been in the mid-teens to over 20%, save for the 2011 crash ye...................... To view our full article Click here
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