A Fund of Fund we work with is looking to add a few select managers that fit this description. * Strategies that take advantage of the substantial move toward passive investing versus picking single stocks. We are looking to strategies that take advantage of massive inflows into ETFs (both here and abroad), index Funds, etc. * Strategies that seek to take advantage of outdated and pedestrian strategies. Due to the massive amounts of money in hedge funds, and, the amount of incredibly smart people working within the industry, I think simple strategies that worked for many years are now outdated in much the same what the simple trend-following became outdated. This could include a lot of pedestrian mainstream strategies such as traditional Stat. Arb., fundamental long/short, etc. * Strategies that utilize proprietary data sets that are unavailable publically for purchase or on Bloomberg, etc. * Strategies that I am unaware of that could be interesting. I'm interested in keeping an open mind on things like trading environmental attributes, wetland mitigation credits, etc. which are things that have a good story that I haven't heard of before. Not looking for strategies with beta or directionally oriented strategies. Prefer non-discretionary. Email me your name, phone number, bio and a description of your strategy and returns. I will not be evaluating these emails but will forward them to the CEO of the fund. Bob
Robert, 1) Do you have a structure requirement ? e.g. can it be managed accounts or does it need a specific Cayman / 40 Act / OnShore-OffShore etc. 2) What is the ticket size ? 3) Where is the FoF located ? 4) What's the FoF's size ? 5) Do you specifically need an ETF strategy or just anything that makes money ? Does it need to be securities or could it be futures / options ? 6) How long does the track-record needs to be ? do you have any quantitative requirements (aum size, track size, sharpe > x) I have a few friends who would fit your requirements, all based in London, UK and all have a systematic strategy. Some doing a fairly high amount of volume and could clear or trade through Lightspeed.
All I can tell you is this fund is based in NYC. They have the resources necessary to make an allocation from $5mm to $10mm to start and will raise money for you if you do well. The rest, I have no idea except what you have read above. Take your time and put together a summary, if you feel you fit the bucket, I will forward any emails that look serious. If they use Lightspeed for that allaoction is up to them.
Further clarification: At this moment, they are looking for internal traders to come work for their multi-strategy hedge fund. To be clear, they are looking for those that will to join the Fund internally in their NY office. They would also consider other strategies with a preference toward ‘niche-oriented’, capacity constrained, high-Sharpe strategies. Must have verifiable track record and be market neutral. Bob
Let me guess, a Chinese owned fund? The description is filled with incredibly poor English. Secondly, this is one of the poorest adverts for the specific relationship of feeder/pm I have ever seen. Why? "Gimme gimme gimme". Good and interesting arrangements explain clearly what the fund wants and is looking for but good arrangements also clearly describe what is on offer and what the benefit of such relationship for the prospective PM would be. Next, one of the most important expects in this realm is never addressed: IP. I get phone calls from various head hunters on almost a weekly basis who look for PMs to "introduce" their strategies to the Millennium Partners of the world. I am smirking and ending the phone conversation very soonish each and every single time when I get the impression a fund is only after my strategies but is not willing to purchase my strategies. Some people in this space seem to be stupid in believing they owe their strategies to funds just because such funds are providing capital. At least there must be some gullibility quants out there for funds to try this game. If a fund cannot provide a clear path to me securing my IP or them offering a proper amount to transfer my IP then I see no point in speaking with them because everything else amounts to borderline IP theft. Sorry Robert, I think you are an honest guy but the individual or firms you are looking to introduce just sound shady and dodgy. I am currently picturing a 25 year old son of a rich Chinese entrepreneur in Shenzhen. A little guy who drives around in a lambo. Speaks and thinks highly of itself, but actually has nothing else to offer than daddy's money.
Nope. USA based fund in NYC run by an New Yorker. Look, I'm just trying to help a guy with a good business looking for good people. If you are not interested or your strategy or location is not a good fit, no problem. I don't expect this to be easy. I thought a Portfolio Manager here might find this a good fit. Capital is hard to find these days. They have it.
How about you first get back to your contact and ask them for more details perhaps? I mean that in a constructive, perhaps slightly annoyed way. If that is all this fund forwarded you then that is highly unprofessional and has a huge stink to it. There are tons of funds who simply look to get "extract" (aka steal) IP, whether via phone conversations or on boarding someone (more importantly onboarding their strategies) without offering much in exchange. I am just expressing my concerns as I have had plenty experience in this space and learned to smell dodgy individuals/firms even from the little information they provide.
All points taken, though you come across as slightly agitated and never address the IP issue. You clarified earlier saying they are looking for a PM to work at their fund which adds to the already existing confusion. So it's not a fund of fund as you earlier indicated but a fund that looks to hire a PM and gain insights into the successful strategies of successful Quant traders. For the record, i am not looking to switch jobs. I simply share my experience and warn others to be very careful with their IP. I disagree with one point of yours though: capital is NOT hard to come by these days (nor ever) for someone with profitable strategies and a proven track record. I tell you what is hard to come by these days however: people with profitable strategies and a proven track record.
simple trend-following became outdated ___________________________________________________________________________ These people need some serious help - in the strongest trending market of all times they don't believe in trends, don't want to be directional, and yet they want to follow big ETF inflows - good luck with that. 'Send us your winning strategies and we will get back to you.. look at this big carrot .. we have lots of $' For those stating trends no longer exist, maybe they should get into another business. There is nothing better than trading with your own $!
I'm going to keep this simple and not ask for more information. I'm also going to try and not respond to any other comments made publically. I'm offering to forward any presentation made by anyone that might look like they might be interested and fit what they are looking for. That's it. Anyone that know me knows I've not done this in the years I've been here since 2011. I'm NOT part of the hiring process but I thought there might be a member here that might need a job and fits the bill. PS He runs 6 Fund of Funds and 2 internal hedge funds, in addition to their advisory business and sub-advisory businesses. This is for a multi-strategy hedge fund in NYC.