Ciaran Kane

Three Rock Capital Management Ltd is a discretionary global macro manager based in Dublin, Ireland. The firm trades managed accounts through its Global Macro Program, which has a track record dating back to January 2009. The $13m program is up 7.53% YTD after returning 2.3% in February, and up 62.6% since inception. From January 2009 and November 2012, the firm traded as Anark Capital Ltd.

"We have been established since start of 2013, although Conor O'Mara has an audited track record going back to January 2009," Ciaran Kane, Three Rock's managing director told Opalesque.

The three principals in the business – Investment Director Conor O'Mara, Research Director Fergal Cox, and himself – worked together at the Bank of Ireland on the trading side in the 1990s. Kane and Cox share a background in interest rates, and Conor's background is in foreign exchange. The fourth member of the team is Gary Murray, Head of Compliance.

Three Rock has a robust infrastructure, with an Investment Committee which meets weekly and checks what the investment director is doing. Trades are also graded and risk is measured accordingly. There is also a Management Committee that meets weekly. "It's a small business but we try to make it as institutional as possible in terms of the infrastructure," Kane adds. Discretionary strategy

Three Rock's program follows a discretionary global macro strategy via managed futures, with a strong focus on foreign exchange markets (FX), and aims to capture three or four substantial trends in a calendar year.

In addition to FX, the program trades equity indices, interest rates and precious metals.

The program's risk is concentrated, and it rarely has more than four positions at any point, Kane explains......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.