- Advertisement -
- Advertisement -

Related

Brummer-Backed Florin Court Gets Sizeable Allocation

Latest Report

- Advertisement -

Stockholm (HedgeNordic) – Brummer-backed CTA Florin Court has received a sizeable allocation from the NYC Police and Fire Pensions. The pension schemes allocated a combined USD134 million to the London-based manager last month, Bloomberg reports.

Florin Court, who manages a trend following strategy focusing on less liquid or exotic markets (see HedgeNordic interview here), said that the allocation was a result of the pension looking for increased diversification at a time with challenging equity market valuations and rising interest rates.

“Given where equity markets are and where interest rates seem to be headed, they’re looking for extra diversification,” Doug Greenig (pictured), the founder of Florin Court and a former chief risk officer of Man’s AHL unit, said of the pension allocation. “The exotic, alternative markets angle was critically important to them.”

 

Even though Florin Court is the only manager focused on illiquid markets in the USD50 billion pension scheme’s portfolios, it is by no means the first allocation they do to quantitative funds or even to trend followers. According to New York City Police Pension Fund public documents, its quant allocations include D.E. Shaw & Co. along with Quest Partners LLC, whose main offering is a CTA.

This exotic breed of CTAs has been an increasingly popular choice given the crowded nature of standard products, Greenig said. Still, with returns picking up for all types of trend-following, CTAs across the board may see new inflows. Florin posted a 6.3 percent return in August, while Soc Gen’s CTA index posted 2.6 percent.

“The one part people still care about is the alternative or exotic market space, but the tone may be changing, People like to see returns and then they start getting excited”, Greenig concludes.

 

Picture: (c) By-Arianna-Tonarellishutterstock.com

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

HedgeNordic Editorial Team
HedgeNordic Editorial Team
This article was written, or published, by the HedgeNordic editorial team.

Latest Articles

Nordic Hedge Funds Extend Solid Run Through Summer

Nordic hedge funds continued their strong run since May, closing out the summer on a positive note with an average gain of 0.5 percent...

Pasi Havia Bids Farewell to HCP, Quant Strategy Carries On

After more than a decade at Helsinki Capital Partners (HCP), portfolio manager Pasi Havia has stepped down from his role, leaving behind the management...

Fresh Talent, New Funds: ALCUR Expands Reach in Retail Segment

After a wave of portfolio manager hires earlier this year, stock-picking fund boutique ALCUR Fonder is preparing to launch several new funds aimed at...

Quirky Questions for Kathryn Kaminski (AlphaSimplex)

Not every hedge fund conversation needs to revolve around performance charts or trade execution. In HedgeNordic’s Quirky Questions series, we look beyond the strategies to the...

Active Decisions in Passive Wrappers: Othania on ETF Innovation

Founded in early 2016 by brothers Vincent Dilling-Larsen and Christian Mørup-Larsen, Danish fund boutique Othania built its foundation on a proprietary risk model, “Tiger,”...

Rettig Appoints Crescit Manager to Oversee Hedge Fund Strategies

Simon Borgefors has joined Finnish family-owned investment company Rettig as Investment Director for hedge fund strategies in Stockholm, leaving Swedish hedge fund boutique Crescit...

Allocator Interviews

In-Depth: High Yield

Voices

Request for Proposal

- Advertisement -
HedgeNordic
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.