21/10/2009 Author: Elana Margulies

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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