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Alternative Market Briefing

Currency hedge fund Quaesta Capital gains 21% through Nov. 11

Thursday, November 19, 2015

Komfie Manalo, Opalesque Asia:

Zurich-based hedge fund firm Quaesta Capital AG manages a $420m foreign-exchange options program that outperformed its major peers with 21% gains through November 11, by betting on volatility, Bloomberg reported.

It is the top performers amongst 15 programs tracked by the Parker Global Currency Manager Index, which lost almost 2% during the same period.

The strategy, called v-Pro, has gained by betting that swings in major currencies will grow more noticeably as the Federal Reserve moves to lift interest rates. "Quaesta uses dynamic delta hedging -- a wager on volatility that requires constant adjustments to make sure it avoids taking a stance on foreign-exchange movements," Bloomberg said.

"We’re convinced the market will stay volatile in the future -- the overall levels on implied volatility are still not too high," said Questa Capital CEO Thomas Suter told Bloomberg. Stuter is managing roughly $3bn in his 16-man company.

The average hedge fund lost in the first 10 months of the year according to data provider Hedge Fund Research with the HFRX Global Hedge Fund Index dropping 1.63% YTD through October. The HFRX Macro: Cu......................

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