CITIC Capital Announces Establishment of New Multi-Strategy Hedge Fund Platform for Global Clients
CITIC Capital Holdings Limited ("CITIC Capital") announced the organization of CCTrack Solutions ("CCTrack"), to present a unique multistrategy hedge fund platform that targets institutional investors in the united states, European countries as well as the Asian areas.
The latest system, to-be managed underneath the name CCTrack possibilities, combines the resources and expertise of CITIC Capital and senior management including Ron DIRUSSO and Robert SAVAGE, that foreign exchange (“FX”) veterans with extensive experience with leading banking institutions.
CCTrack is going to be a quantitative supplier for FX Overlay, possibility Parity and alpha generation from short term trading to relative-value skew positioning in worldwide liquid areas covering FX, product, relationship and equity and futures. The model approach strives to hedge client portfolios utilizing quantitative strategies reducing correlation and dangers while returning earnings. The initial offering may be established in the first one-fourth of 2014.
Ron DIRUSSO, CIO of CCTrack, said: “We tend to be stoked up about the launch of CCTrack, which makes it possible for united states to produce bespoke hedging approaches to clients. Through CCTrack, we're aimed at develop great returns from blending and matching easy computer designs with an optimal and modest danger method. With CITIC Capital as our major shareholder, we believe CCTrack is highly situated become sold to Chinese and regional consumers, along with the retirement resources and endowments in United States and European Countries, who we now have established historical commitment with.”
Robert SAVAGE, CEO of CCTrack, added: “The new investment will combine temporary trading designs with relative-value choices techniques. The traditional carry and trend everyday trading designs will additionally be taking part in providing FX Overlay. The danger parity method will give you a base-line of beta comes back to customers besides. We come across it as a great time to start this multi-strategy option while the area of competitors has narrowed dramatically, providing considerable opportunities to offer clients. Our side comes from the initial quantitative method, an energetic risk management approach together with team’s experience with markets.” Yichen ZHANG, Chairman and CEO of CITIC Capital, stated: “CCTrack suits well with this development strategy to increase and enhance our outgoing investment platform. As Asia expands its financial investment within the global areas, we envisage its dependence on solutions and capabilities for FX hedging and variation to rise significantly and CCTrack solutions offer an amazing access to outbound capital with a liquid financial investment method. I am confident that under the leadership regarding the very respected team, CCTrack will further enhance CITIC Capital’s placement inside worldwide option investment administration room and offer investors in the region a whole new opportunity to participate in the worldwide fluid market.”