Fri, Mar 22, 2019
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
New Managers May 2018

Bulletin: Oregon based Blockchain hedge fund manager up 259.65% net through April

 

Oregon based Blockchain hedge fund manager up 259.65% net through April

Stonegate Capital said that its Stonegate Octic AllWeather Blockchain Master Fund returned 259.65% net of fees as of April this year compared to its benchmark, the HFRI Cryptocurrency Index which is down 17.48% during the same period. The fund is managed by Octic Capital Management, a multi-strategy alternative asset manager focusing on relative value trading strategies in crypto markets

Since the fund's inception in November last year, the fund is up 530.92% (gross), Stonegate said in its report.

Opening to outside capital and limiting capacity to $50 million

At the same time, Stonegate founder, CEO and portfolio manager John McCorvey III announced plans that the hedge fund is limiting its capital capacity to $50 million and would open to outside

investors by this year.

He added, "Our team has had the great fortune to able to fine tune our models trading live in both parabolic up and parabolic down markets since beginning our investment strategies in November 2017. It's still a very early market, with a tremendous amount of inefficiencies that will likely persist longer than a year or two due to the odd market micro-structure of cryptocurrency. As we navigate these markets I'm often reminded of my time at Trillium Trading (formerly Datek) and hearing the stories from the biggest equity traders of 98-99'. The cryptocurrency markets are reminiscent of that era's volatility, valuation, and even market microstructure."

Corvey explained that while valuation (mainly of ICOs) will come in, volatility will likely stay substantial until natural consumers of derivatives, such as pension funds, come in, which will lead to thickening of volatility desks since theta sel......................

To view our full article please login

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

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Half of real estate investors are considering investing in opportunity zone funds (OZFs) in 2019[more]

    Laxman Pai, Opalesque Asia: A survey found that 51% of real estate investors were considering investing in opportunity zone funds (OZFs) in 2019, while a further 12% are interested in the longer term. A less widely publicized part of the 2017 Tax Cuts and Jobs Act in the US was the creation

  2. Renaissance founder says hedge fund has overcome Trump tension[more]

    From FT: Renaissance Technologies has overcome internal tensions sparked by the political views of its former co-chief executive Robert Mercer, according to the founder of the $60bn computer-powered hedge fund. Jim Simons, a former cold war codebreaker who is also chairman of the fund, said Re

  3. New Launches: WhiteBox duo plans to launch new event-driven distressed debt fund, UBP unveils credit long/short fund, Man GLG launches high yield fund for ex-Schroders manager Scott, Caisse de d?p?t et placement du Qu?bec launches $250m AI fund, Accel Partners raises $2.5bn across three funds[more]

    WhiteBox duo plans to launch new event-driven distressed debt fund From Bloomberg: Whitebox Advisors LLC colleagues Cindy Delano and Amit Patel have teamed up to form a hedge fund focused on event-driven and special situations that could arise as credit markets tighten. Invictus Glob

  4. Morgan Creek Digital makes strategic investment in Ikigai Asset Management[more]

    Laxman Pai, Opalesque Asia: Morgan Creek Digital Assets (MCDA) has made a major new investment in another crypto-related firm. The hedge fund is committing to a new fund launched by Ikigai Asset Management (IAM). MCDA, founded by Mark Yusko, Jason A. Williams, and Anthony Pompliano, said in a

  5. People: Head of top hedge fund association to step down, Former State Street Exec to lead Equity Trust, Affiliated Managers names Thomas Wojcik next chief financial officer, MoraBanc restructures following Goldman Sachs partnership, Franklin Templeton expands emerging markets equity team[more]

    Head of top hedge fund association to step down From The Hill: Former House lawmaker Richard Baker, who has led the Managed Funds Association (MFA) for more than a decade, announced Wednesday that he will step down at the end of the year. MFA, which represents the hedge fund industr