Tudor Launches New Macro Fund
Tudor Launches First Macro Fund in a DecadeTudor Investment Corp, a well-known hedge fund firm founded by Paul Tudor Jones, is launching its first macro fund in a decade. The fund will invest on macroeconomic trends at a time when there is global financial instability, which the 14 portfolio managers to the fund will presumably seek to profit from. Jones will not be one of the managers managing the Tudor Discretionary Macro Portfolios fund but he will serve as chairman of the fund.
Tudor’s new offering will allow the managers, some of whom have been at the Greenwich, Connecticut-based firm for more than 20 years, to increase the amount of money they oversee as funds that wager on macroeconomic events have attracted investors this year. The firm’s flagship Tudor BVI Global has limited client deposits since 2010 so that its performance isn’t hindered, the investors said.
“The advantage of a multimanager fund is you have a wide disparity of styles, but you aren’t overly reliant on any one person for returns,” said Stewart Massey, chief investment officer at Massey Quick & Co., in Morristown, New Jersey, which invests in hedge funds.
Shawn Pattison, a spokesman for Tudor, declined to comment on the new fund. Tudor manages $11.4 billion in assets.
In addition to attracting new capital to the firm, the fund could also help in succession planning for Jones, who started Tudor in 1984. Jones, 57, has told investors that he has no plans to retire and that he sees many compelling market opportunities over the next four or five years that will keep him trading. Source
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