Interestingly, Quadriga's status illustrates a significant difference between US and European regulations. In Europe CTAs are considered to be hedge funds, and as such subject to the same regulatory regime. In the US, CTAs are a different classification, and while most do not choose to target retail money they do have the option of seekign SEC approval - as Quadriga has done. I think, reading between the lines, this is the reason why there is suspicion of Quadriga in the European CTA market. It's undeniable that a lot of managers really don't want retail money; although it tends to be stickier than some institutional allocations (especially funds of funds) a lot of small outfits can, frankly, live without the hassles, regulatory and managerial, of Mrs Tiggywinkle's three grand. Which leads to their conclusion - justified or not - that anyone who goes after this money, risking the opprobrium of the mainstream press if they mess up, must have 'something wrong with them'. I am the first to admit that I have no idea whther this is reasonable doubt or blind prejudice, but it's my best guess as to why that sentiment exists - which it undoubtedly does. Maverick here clearly thinks he's on to a winner, and Quadriga clearly perform well (albeit not always on a risk adjusted basis to the best of my knowledge). I'm just trying to pass on what I've heard in the market without claiming knowledge I haven't got.
there is more to it i am afraid than what you said. your claim on risk return is right. they trade a sharpe ration of about 1 for final customers.
I agree with this point, however something to keep in mind, every fund in the world is now following their lead. Now Jane Doe of Kansas can get into the John Henry fund through her broker at UBS. Most hedge funds are selling private placements to investments banks to get retail money. Why? Because there is an enormous demand for it right now. The big money has been completely saturated in the last 10 years. It's becoming very expensive to go after this money and not worth the effort, one drawdown and they are gone chasing the next hot fund. With the advent of all the mutual fund probes and misbehavior in that industry there is hundreds of billions of dollars on the table for the taking. The mutual fund industry screwed up and now the quadriga'a of the world are there to take it. I think it was a smart move. And Christian Baha is looking like a genius for going after it.
Guy, this is complete BS. I have their info package right here in front of me. And they clearly market the new Superfund B (Austria, Euro) with four year performance charts and tables of the Quadriga GCT (USD). And they market the Superfund C with the Cayman performance. For the Superfund A they refer to the seven successful years of the Quadriga AG, etc.
Listen I'm not here to sell you the fund. Don't get in. Stay in your Vanguard index fund, I don't care. I never said the fund was not risky. Risk and reward go hand in hand my friend, you can't have one without the other, anyone telling you otherwise is trying to sell you something. To each his own, good luck with your investments. There's nothing wrong with Vanguard.
Dude for the last time, IT'S THE SAME F*CKING FUND! Shit you would think after I said this ten times you would get it. The Superfund A is the same as AG, the Superfund B is the same as GCT and the superfund C is the same as Caymen. They are the same funds!!!!!! The other funds are closed. So they did a new offering. The funds trade the exact same model, same strategy, same positions. They are the same! I must have a problem communicating because I can't for the life of me figure out why this is not getting through to you. Let me try this, is there someone out there other then Ninja who doesn't understand this. Or this just Ninja, let me try speaking with someone else. Maybe it's me I don't know.
DEEP BREATH.................NOW REPEAT AFTER ME..................I WILL ONLY DRINK DECAF! Who cares? I think MAV is really Christian Baja in Drag............... No actually Christian does not waste his time reading this rubbish.