Stanley Fink Black Box
Fink, Ex-Man Group CEO, Launches Black Box Fund
The firm is launching the ISAM Systematic fund in April with the help of industry veteran Larry Hite's Hite Capital Management, which has been running computer-driven funds for the past nine years. Hite has a long track record in quantitative investment, having previously set up Mint Investment Management.
As part of the deal, Hite, along with executives Alex Greyserman and Gilbert Lee, will become directors and shareholders of ISAM, it said in a statement on Monday.
The launch comes at a tough time for managed futures funds, which have been suffering from a lack of the kind of clear market trends they try to follow to make money.
According to Credit Suisse/Tremont, the average managed futures fund is down 3.8 percent in January, having dropped 6.6 percent last year.
In particular, Man Group's AHL, which had $20.4 billion in assets as of last March, is down 16.6 percent over the past year...Source
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