Opus Prime Capital will be launching a discretionary managed futures program later this month on Schneider's London-based hedge funds platform.
Opus is the sponsor of 'Op.1 Alpha Advance Global Futures Fund' (Op.1 A.A.G.F.). The portfolio manager, Jin Khang, was formerly a proprietary trader at Kidder Peabody, Fuji Bank and Korea Exchange Bank. In 1998 he began to concentrate on managing his own wealth as he developed the program, soon generating returns in excess of 40%+ per annum. He will be providing the majority of the initial seeding for the fund that could grow to USD 500m with commitments from other investors.
Jin Khang said: "The Op.1 A.A.G.F. Fund is aimed at two groups of investors", he said, "Some investors will be attracted by the standard aggressive program whereas others may find the targeted performance of the lower volatility version more palatable." The more conservative version has a targeted return of 25%+ per annum to the investor, with an annual targeted volatility of 15%.
Jin Khang added: "We aim to be constantly flexible and adaptable to making profitable trades regardless of whether the markets are trending, range bound or gyrating wildly. In this way, we will be stepping beyond the traditional "mechanical/black-box trend following" system of the vast majority of futures funds, to a frame-work where the expertise of the investment manager is used to drive all trading decisions albeit with the assistance of the usual technologies and computers."
Schneider's hedge fund platform was founded in 2003 to streamline the set-up process for emerging hedge fund managers and has since been providing facilities, trading access, administration and a regulatory framework to six hedge funds.
The group's investment management unit, PCE Investors Limited, is authorized and regulated in the UK by the Financial Services Authority in the conduct of investment business.