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VARUNA Technologies launches maiden multi-strategy quant fund

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VARUNA Technologies (VARUNA), the European technology-driven investment platform, has launched its Dutch-domiciled VARUNA Navigator Fund, which will employ a multi-strategy approach, investing across a variety of asset classes and applying systematic technologies across its whole investment process, including research, allocation and trading.

VARUNA is led by Adrian Fraenkel and Michael Goldbacher, co-CEOs and Founders, who over the past two years have assembled a world-class team of quant specialists. This includes Magrino Bini, CTO, who has developed the VARUNA infrastructure and has previously  worked in quantitative trading at UBS, Millennium Capital Partners and Capstone Investment Advisors.

The VARUNA team currently comprises 14 full time professionals. It is differentiated by having all employees operate remotely, thus broadening its talent pool across the world.

The fund will engage in mid-frequency trading, with the capability to execute more than 500 trades per day across 1,200 liquid instruments, capitalising on the 400,000 observations the VARUNA platform makes per day. It will trade across interest rates, equities, volatility instruments, commodities and FX, with the Fund’s equity investments primarily focused on the US and Japan.

VARUNA’s short-term, mid-frequency trading approach, combined with a robust risk management framework, systematic allocation across strategies and performance-based incentives for each quant, results in a diversified and well-balanced portfolio for investors.

The VARUNA Navigator Fund has currently onboarded over 15 external quant strategies, which fit its rigorous criteria for robustness and offers diversification to the existing in-house pool of quants. This number is set to grow, as the fund continues to seek supplementary strategies and managers globally.

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