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Alternative Market Briefing

As quant funds stumble, a new manager stands out

Tuesday, July 31, 2018

Bailey McCann, Opalesque New York for New Managers:

When Andrew Middlebrooks launched EIA All Weather Alpha Partners last year, he didn't fit the profile of a typical hedge fund manager. He opened his fund in Detroit, not New York, becoming the first minority-owned quantitative hedge fund in Michigan. He also developed his own proprietary research system called GLM Analytics, which analyzes more than 3000 listed stocks and ETFs in real time.

Since the fund's launch in April of 2017, EIA has put up strong performance numbers, catching the eye of many investors. The strategy ended 2017 up 117% and is up approximately 28% through May 31 of this year. The fund was number one in Preqin's top performing relative value strategies hedge funds for 2017, number one in top performing volatility trading hedge funds for 2017, and number one for net returns for Preqin's top performing systematic hedge funds in 2017. The strategy had $600,000 AUM at launch and has grown to approximately $8 million.

Middlebrooks tells Opalesque New Managers that this first year has been a crucial proof of concept. "We put up really strong numbers over the past year," he says. "More people have started to reach out, but more importantly, performance so far this year shows that what we are doing is repeatable."

EIA runs an opportunistic global relative value strategy with a focus on identifying growth co......................

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