Stonehenge Asset Management to Launch $250M Multi-Strategy Hedge Fund in April
By Christine Gaylican | April 2, 2012 7:25 PM EST
Florida-based multi-strategy alternative investment manager, Stonehenge Asset Management LLC is set to launch its third multi-strategy hedge fund, Stonehenge Diversified III, in April this year. The new fund will be domiciled in the U.S. and has appointed NAV Consulting Inc., as administrator.
Stonehenge Founder, Principal & Chief Investment Officer Steven A. Michael said that the new fund is an extension of the firm's Stonehenge Diversified 1 hedge fund, although Stonehenge Diversified III may accept non Qualified Eligible Person (QEP) investors in the future.
As a multi-strategy hedge fund, Stonehenge Diversified III will trade on a short tem approach to a statistically volatility breakout on a 24-hour basis, the fund would also trade in medium strategy approach using a statistical volatility algorithm along with capital flow data to trade a broad base of commodities, adds Mr. Michael.
Mr. Michael explains that "these two strategies target a fixed profit and stop loss level. The third approach is the Forward Curve Realignment Strategy, which seeks to capitalize on the reversion to equilibrium of the forward curve following the distortions brought about by the rolling of established positions, primarily by long-index investors and speculators."
"We limit our trade horizon to one week. These This strategy goes long and short all markets to minimize market impacts. We allocate to each strategy based on a proprietary volatility allocation system. We trade 25 different markets in the US derivatives. We are shortly adding European and Asian markets," notes Mr. Michael.
He said the subscription value set by Stonehenge has been reached and hasl commence trading on April 1, 2012. Stonehenge Diversified III will be offered continuously moving forward beginning May 1, 2012. Subscriptions for May will begin on April 1, 2012. The fund will have an extremely large capacity and the manager is looking to achieve its $500 million target soon.
Stonehenge's existing clients and relationships provided the seed capital for the fund after the initial offering was announced.
Stonehenge Asset Management manages two other funds, Stonehenge Diversified I and Stonehenge diversified II.
Michael also announced that its SCM Trading Program, which is the program utilized by the Stonehenge Diversified I and II finished up 5.86% in February this year. Stone Diversified I, which began trading in February of 2011, finished the year up 1.66%.
"Although not outstanding performance we are very happy to have beaten our benchmark Newedge and Barclays Indexes which were all down last year. Stonehenge Diversified II which began trading in mid October of last year and is a principal protected fund, is up 1.24% over the last four months. All of the Stonehenge track record numbers are prepared by our third party administrator," Michael added.
Stonehenge Asset Management is a multi-strategy alternative investment manager based in Delray Beach, Florida. Founded in 2009, the firm allocates capital to multiple strategies across the global futures and FOREX markets. The firm is registered with the Commodity Futures Trading Commission (CFTC) as a Commodity Pool Operator (CPO), and a Commodity Trading Advisor (CTA), is a member of the National Futures Association (NFA) and an approved FOREX Firm. www.stonehengeam.com
To speak to Steven Michael, please e-mail him at email@example.com or you can call him 561-952-1655.
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