NEW YORK (HedgeWorld.com)–Meyer Capital Management of Barrington, Ill., expects to launch a Cayman Islands-domiciled fund before the end of the year.
The Galahad Fund will be based on the same quantitative, diversified managed futures strategy that James Meyer has used over the past five years. It includes a wide range of futures, from grains and interest rates to stock indexes, currencies and metals.
Year to date as of November, this strategy posted a return of over 23%. The firm has been running managed accounts and a U.S.-based hedge fund.
“Many of the institutional investors and fund of funds whom we have visited would prefer the offshore product,” said Managing Director Mike Stendler. The Galahad Fund will satisfy that demand and is preferred by non-U.S. investors, he added.
Galahad is being listed on the Irish Stock Exchange and will become available as soon as the Exchange indicates that requirements for listing have been met.
Finaltis SA, a Paris-based alternative asset manager, has provided the initial US$5 million to launch Galahad Fund and will offer the fund to its European clients. Finaltis manages more than US$350 million, with a focus on futures and derivatives markets.
Meyer currently manages more than US$100 million, mostly from U.S. investors. It has grown significantly this year .