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Alternative Market Briefing

Chess masters' hedge fund up 19% in 2021

Friday, January 07, 2022

B. G., Opalesque Geneva:

Chessica LP, a market-neutral hedge fund, may have changed hands a few times but it is still thriving with annualised returns of 11.8% since its early-2010 inception.

"The strategy is based on the concept of Delta Neutral*," Alex Rabinovich, managing director of Chessica Management Group, LLC explains to Opalesque. "We trade options and exploit inefficiencies in the major indexes option structures. Since most of the time we don't know where the market is going, it is easier to remain neutral. The key is to hedge and adjust as the market fluctuates. The strategy is supposed to outperform the hedge fund index in bull, bear, or idle markets, based on the design. We had some small bumps in 2021, but overall the market and the strategy were in our favour."

Alex Rabinovich and Victor Plotkin co-founded New York-based Chessica Asset Management in 2009 together with entrepreneur A.J. Caro. The two Russian nationals and Caro had previously met on the chess circuit. The following year, they launched a fund that uses a market and delta neutral strategy, called the Genius Hedge Fund. The name of the fund reportedly referr......................

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