Thu, Feb 25, 2021
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Catana’s Big Data fund undergoes glitches, founder to take up CEO role

Monday, October 17, 2016

Benedicte Gravrand, Opalesque Geneva for New Managers:

When German fund manager Catana Capital launched its Big Data fund on 30 June, it broke into unfamiliar territory - for the fund management industry at least. The fund invests exclusively on independent trading signals generated from Big Data analysis, combined with artificial intelligence algorithms.

But it has had its birth pangs. The fund was down -3.9% in July-September, while the DAX index lost -0.8%.

"The reasons for Catana’s negative performance within the last three months are identified, addressed and have been already sorted out to a large degree," says the company in its latest report to investors.

But just to make sure the sorting out is all done well, Catana’s founding partner Bastian Lechner, who is currently head of business strategy at Commerzbank, will join his firm as a full-time CEO as from December (subject to regulatory approval). The current CEO and CRO is Holger Knauer, who was formerly a risk manager at €1.8bn Celios Investment and its predecessor Prisma Investment AG.

The firm attributes the negative performance to two system properties; "These two settings caused the system to interfere with the overall direction of the alpha-signal and close DAX index position too early." The programmers knew i......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing: Tribune Publishing agrees to $430m takeover by hedge fund, Jana Partners builds new stake in Labcorp, Tiger Global's Coleman doubled down on stake in Uber, added bets in Airbnb and DoorDash, Baupost Group takes a large stake in Intel[more]

    Tribune Publishing agrees to $430m takeover by hedge fund From Boston Globe: Tribune Publishing Co., the owner of the Chicago Tribune and New York Daily News, agreed to be acquired by Alden Global Capital LLC for about $430 million, putting a hedge fund known for firing journalists at

  2. PE/VC: Private capital funds to spend billions on tech & outsourcing, Why family offices are drawn toward venture capital, Megafunds continue to reign in VC[more]

    Private capital funds to spend billions on tech & outsourcing From Funds Europe: Private capital fund managers will spend several billion dollars so they can provide daily performance reporting and meet other transparency demands in the next five years, research suggests. Transparency

  3. PE/VC: VC fund investors not raising alarms over SPAC trend, Asian private equity investors focus on business transformation[more]

    VC fund investors not raising alarms over SPAC trend From Axios: Venture capital firms, formed to invest in startups, are increasingly becoming sponsors of SPACs, blank-check companies that bring later-stage businesses into the public markets. It's significant strategy creep, but so fa

  4. PE/VC: Private equity may face return of attention-getting SEC fines under Gensler, VC firms are launching SPACs, Blackstone's Perry says private equity must do more on diversity[more]

    Private equity may face return of attention-getting SEC fines under Gensler From WSJ: The largest U.S. financial regulator has turned its focus away from private equity in recent years, but new agency leadership could mean tougher enforcement and heavier fines for buyout firms, attorneys

  5. Opalesque Exclusive: London manager to launch absolute return options fund[more]

    B. G., Opalesque Geneva for New Managers: Carmika Partners LLP is a discretionary investment manager that specializes in quantitative volatility trading. Th