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Alternative Market Briefing

ThirdYear Capital launches macro fund with Agathon Capital and Universal-Investment

Friday, October 23, 2020

Bailey McCann, Opalesque New York for New Managers:

ThirdYear Capital has launched a new macro UCITS fund together with Agathon Capital and Universal-Investment. The ART Global Macro fund invests in liquid and exchange-traded instruments such as equities, government bonds and futures. The fund was launched with EUR 20 million and is administered by Universal-Investment.

ThirdYear Capital is known for its quantamental trading strategies. The firm is led by Martin Rossner who was previously with Man Group.

ThirdYear's approach to investing relies on "nowcasting" - using technology to provide short term forecasts of economic activity - along with fundamental analysis. For the ART fund, ThirdYear processes over 5,000 selected economic and financial time series to predict economic activity for over 20 countries in the near future. The methodology, popular with central banks, uses higher frequency data to determine lower frequency economic data before it is released. This results in continuous indicators that are recognized as cause-and-effect relationships. By identifying the cycle phases, the strategy is informed about the expected returns of the asset classes. Fundamental analysis works alongside these projections as a check on the data and an additional layer of insight.

Unlike other macro funds, factors and technical trend signals are deliberately avoided.

In an interview ......................

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