Does loyalty lie with the lawyer or the law firm?
Big changes were afoot in the London hedge fund legal scene last week, after New York-based Akim Gump swooped on Simmons & Simmons
21/10/2009
Tunnelbrook Capital makes its first foray into futures
Tunnelbrook Capital, the Miami-based $150m hedge fund manager, has made its first foray into the futures market with a new vehicle, HFMWeek has learned.
Tempo Futures, which debuted the end of last month in the form of a managed account, is an intra-day strategy that exploits high-frequency opportunities, while trading the most liquid markets. It takes advantage of volatile intra-day swings in both up and down markets.
Steve Malloy, CEO, said Tunnelbrook had developed a new proprietary system that had enabled it to launch a futures strategy.
“In light of the current environment, we believe that investors are very interested in systems that generate alpha independent of beta and have very controlled risk parameters,” he said.
The account, which launched with $10m, was seeded by a US investor, who has been a long-term investor with Tunnelbrook’s flagship Prima fund, a long/short equity strategy.
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Editor's view: 8 February 2012
Speculative moves, a perceived landgrab and a potential bidding war in the hedge fund sector have all opened up in recent weeks
Comment: Julian Korek
"Advisers need to be analysing key considerations and determining where they fall in the spectrum of SEC registration; no easy task given the scope of the legislation"
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