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Ascentis Capital launches US equity market neutral fund

Swiss-based Ascentis Capital has announced the launch of the Ascentis Abraxas Fund, a Cayman Island Limited Partnership.

Ascentis Abraxas Fund is designed to attract institutional and private investors, both US and European, to enhance their risk/return perspective.

Annual returns are targeted to range between 18-22 per cent, accompanied with a volatility of 10-12 per cent per annum. The fund is not correlated to the equity markets, and will be held dollar and sector neutral at all times.

Ascentis Abraxas Fund commenced trading on 13 August 2003 with initial assets of USD 4 million from institutional investors. The fund's strategy, which was developed over the past year and a half, employs a proprietary factor model which measures trends in observed stock prices and expects to profit from market inefficiencies over time.

Christian Lepple, CFA, advisor of the Ascentis Abraxas Fund, designed the strategy based on his long-term investment experience. He said: "Next to creating an investment vehicle, which offers superior risk/return characteristics; we put a lot of effort into transparency and liquidity issues to meet investor requirements."

Lepple said: "Although there seems to be a myth behind most quantitatively driven funds, we want investors to feel comfortable with our investment strategy and process. We also understand that risk management is not a stand alone procedure, which is why it is completely integrated into our investment approach."

Ascentis Capital provides different absolute return strategies, based on quantitative models and leading edge software solutions.

copyright hedgeweek 2003

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