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Alternative Market Briefing

Magma Capital Funds lunches the Obsidian Fund

Wednesday, June 23, 2021

Laxman Pai, Opalesque Asia:

Magma Capital Funds, a quantitative investment manager that leverages volatility-based, multi-asset strategies, announced the launch of the Obsidian Fund, a new investment product that will provide current and former professional athletes access to an actively managed, artificial-intelligence driven fund model.

According to a press release from the Chicago-based firm, Obsidian - constructed as a sister fund to Magma's Total Return Fund - is designed for all market environments, to provide consistent returns no matter the direction of the market.

The fund leverages machine learning techniques and an advanced neural network to break down each day's market activity into three volatility states, which informs how the fund's systematic strategy deploys its assets, said the release.

At Magma, we view money as the means to something and not an end in and of itself," said Gershie Vann, founder, and CEO of Magma.

"We want to be an avenue for current and former athletes to transform their salaries into generational wealth for their families and their communities. Hedge funds are commonly thought of as a tool for old money to enrich itself, but we want to bring this model to all eligible investors," Gershie added.

"Magma Capital Funds was founded on the belief that investor sentiment is heavily impacted by volatility and that volatility can be used as an indicator for asset allocation in all market environments," claimed the press re......................

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