Alpha Strategic, an Aim-listed hedge fund investment group, has acquired Acme Advisors, a wholly owned subsidiary in the Ikos advisory group.
Acme has been incorporated to provide sales and distribution advisory services to Ikos in respect of the Ikos G10 Currency Fund Class, one of Ikos’ flagship funds. For the provision of these services, Acme has an agreement with Ikos to receive 7.2 per cent of Ikos’ aggregate management and performance fees relating to the fund.
The Ikos agreement follows an earlier transaction with Winton Capital Management in 2006.
Ikos creates technology to benefit from high frequency trading in markets which are becoming increasingly electronic. The company places over 150,000 orders per day using the most liquid instruments in the largest equity and financials markets.
Alpha chief executive Dr. Nicola Meaden says: ‘We are very pleased to have secured such a promising addition to Alpha’s income base. We feel this new arrangement not only delivers immediate value to Alpha Strategic shareholders but gives us the potential to enhance growth and develop closer ties with our existing and forthcoming relationships.’
Elena Ambrosiadou (pictured), chief executive and co-founder of Ikos, adds: ‘This is an excellent opportunity for Ikos and Alpha Strategic. What has emerged from our agreement is a proposition of elegant simplicity – transparent, liquid, easy to trade and easy to understand. Retail investors gain access to the skills and resources of Winton Capital and Ikos, two of the most established and experienced managers within the hedge fund industry. We confidently expect that other managers will wish to participate in what promises to become a new benchmark of quality with accessibility.’
