Fimat USA, LLC, has been appointed prime broker to the Quantitative Ultra Fund, which is managed by Quantitative Investment Management LLC. The fund was launched with $25 million under management.
Quantitative Investment Management’s other fund, Quantitative Global Program, is closed to new investors with $1.55 billion under management.
The Ultra Fund will aim for a near-zero correlation to the Global Program. It expects to have much higher capacity, due to its longer holding period, and expects to be around 50% correlated to various major long-term trend followers.
The Ultra Fund will be a futures fund with the stated goal of maintaining a typical holding period of six to 24 months. It will initially trade futures markets across the world including financials, energies and metals. Other markets, including agricultural products, may be added at a later date. It will be seeded with proprietary capital and was opened to onshore and offshore investors on September 1. There will also be a 3x share class offered to investors who wish to leverage their investment.