London-based Beach Horizon LLP, which recently gained FSA authorisation, has launched its first fun...
London-based Beach Horizon LLP, which recently gained FSA authorisation, has launched its first fund with an initial size of $13m.
The Beach Horizon Fund is based on Beach Horizon's diversified, systematic, medium-term trading program, and was developed by Paul Netherwood, Alan Goulding and Sanjeev Lakhanpal under David Beach, founder and CEO of Beach Capital Management (BCM). BCM is the majority shareholder in Beach Horizon but each of the three program developers has an equity stake in Beach Horizon.
While paper trading in-house for the last two years and having been back-tested to 1981, the Beach Horizon Fund has produced simulated annual average returns of about 17% net with standard deviation of around 15%, according to the firm.
The product will target institutional investors, and will offer only a dollar class - but euro classes and a feeder for US investors will likely be added later.
The Cayman-domiciled fund has a minimum investment of $100,000 and fees of 2% management, 20% incentive. Its capacity is estimated at between $500m and $700m. It also welcomes managed accounts starting at $10m.
An ambitious objective
'Something completely new'
'Illusion of control'
Reasons to be cheerful
Total investment reaches £9m