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Bailey McCann, Opalesque New York for New Managers:

Few new funds come to market with the pedigree that Chicago-based Trident Capital Management does. The Trident Futures Fund, a systematic global macro fund which launched in January 2019, is backed by noted systematic trader Jay Feuerstein and is already winning awards.

The Trident Futures Fund runs on three proprietary trading models: Vega, RR, and the Engle model which use measures of market volatility and risk appetite to add stability and consistency to Trident's portfolio. These models are meant to be valuable in times of crisis by either being "short" equity or "long" fixed income, or both. The models work in concert depending on how markets are behaving at any given time. Individual models may turn on or off based on market signals.

The strategy is the latest outgrowth of Feuerstein's work in systematic trading. Prior to launching Trident, Feuerstein was the founder and CEO of systematic fund Xenon Capital Management, which returned +43% during the '08 crisis. Xenon was later sold to Manning and Napier where Feuerstein became head of alternatives. Feuerstein started his career at Drexel Burnham Lambert, where he was known for his work constructing the RJR Nabisco hedge in the late 1980s. From there he moved on to roles at Lehman Brothers, Bear Sterns, Commodities Corporation, and Goldman Sachs Asset Management.

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