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Bailey McCann, Opalesque New York for New Managers:

Former Man Group portfolio manager Art Holly has launched 199 Capital Management, a new alternative investment firm offering an equity long/short strategy Holly has managed for himself since 2017.

The flagship fund is a multi-strategy approach diversified across four sub-strategies, portfolio holdings, and time frames, both long and short. The resulting approach blends long and short US equity models with proprietary futures models to identify and support trades. The goal of the strategy is to deliver smaller and shorter drawdowns along with a positive-skewed return distribution.

The sub-strategies within the flagship portfolio are largely systematic and rules-driven. 199 trades North American single-name listed equities (including ADRs) and ETFs as well as index futures. The average holding period could be longer than four months on positions that are doing well or as little as five days on trades that don't pan out. The strategy is targeting a maximum volatility of 10% and a maximum drawdown of less than 10%. The 199 flagship strategy has been running via separately managed accounts since 2017 generating net returns of 252.1% vs. the S&P 500 TR Index of 129.8% and the HFRI Equity Hedge Index of 51.2%, over the same period, according to third-party performance information reviewed by Opalesque.

Portfolio manager Art Holly......................

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