Fund manager Roy Niederhoffer spoke to MarketWatch to explain why his flagship fund posted 80% returns so far this year and reveals a change to the fund in...
The flagship fund of New York-based R.G. Niederhoffer Capital Management was up 79% as of Nov. 30, according to HSBC’s Hedge Fund monitor. That fund accounts for about 40% of its $1 billion in assets.
Speaking to MarketWatch from a beachside resort, Niederhoffer explained that the fund aims to profit from short-term volatility in the fixed income and equity market futures using quant methods. Short-term trades can range from less than an hour to 5-10 days. With 30 years of experience and a degree in computational neuroscience from Harvard University, Niederhoffer says his underlying philosophy is that quantitative methods can predict behavioural biases in the markets.
“I think it’s given our models an overall environment where they can be unusually accurate because the conditions that they are most accurate in were just prevalent for the entire period,” he added. As a result, Niederhoffer will be re-launching and renaming the flagship fund as the macro diversified fund in January. The aim is to raise $500 million in 2023.
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