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Alternative Market Briefing

Australian emerging hedge fund manager's algorithm sees signs of contraction

Wednesday, February 27, 2019

amb
Scott Shuttleworth
B. G., Opalesque Geneva for New Managers:

Portfolio manager Scott Shuttleworth launched the Vega Fund, an absolute return equity derivatives fund, in July 2018 with seed money from various sources. In this interview, he talks about the history of the strategy and the launch, the fund's algorithm, which, incidentally, is seeing signs of an impending recession, and the environment for emerging hedge fund managers in Australia.

Opalesque: What is the history behind the development of the strategy?

Scott Shuttleworth: I have devised the strategy piece by piece over the past 10 years, beginning at university when I began classes in option pricing. I finished my Master's Degree in 2017 and wanted to carry research into that market privately. I discovered that by factoring in macroeconomic signals, I could invest in a portfolio of liquid options and generate high risk-adjusted returns. In particular, I noticed that the strategy was particularly profitable during recessions. I suspected that investors would be interested in a product which could generate average returns of 10% p.a. during bull markets and over 50% during recessions. I couldn't find anyone else in the Sydney market with a similar product and this......................

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