Managed futures specialist Welton Investment is opening a New York office overseen by Justin Dew, who has joined the firm as senior managing director of strategic development.
The expansion is due to the firm's growth and increasing investor base in New York, Europe and the Middle East.
'We are excited to have a presence in New York and see this expansion as an evolution of our business,' says Patrick Welton. 'We are delighted to have Justin on board. He brings a diverse industry background and solid understanding of the true role of alternative investments.'
'It's an honour to help Welton take their business to the next level,' says Dew. 'Coming off a year in which most strategies lost money, this is a perfect time to educate investors about the merits and benefits of managed futures.
Welton Investment says managed futures were one of the few hedge fund strategies to perform in 2008 and once again displayed non-correlation with the broader markets. Managed futures gained 13.90 per cent in 2008, according to the Barclay CTA Index compiled by BarclayHedge.
Dew will assist senior management in the strategic development of the firm, in part by identifying new and innovative strategic growth opportunities and strengthening and further diversifying the client base.
He was managing director and head of strategic development of Clinton Group in New York where he was responsible for development of new investment strategies, investor relations and sales. Previously Dew was a senior director and global head of alternative strategies at Standard & Poor's in New York.
Based in Carmel, California, Welton Investment is an investment management firm specialising in managed futures and global macro strategies.
The firm's flagship Global Directional Portfolio programme has approximately USD500m in assets as of 31 December 2008 and is a component of the FTSE Hedge CTA/Managed Futures Index.