IKOS and Alpha Strategic have signed an agreement whereby Alpha Strategic has acquired Acme Advisors Limited, a wholly owned subsidiary in the IKOS advisory group, the Hedge Fund Journal reports.
Acme has been incorporated to provide sales and distribution advisory services to IKOS in respect of the IKOS G10 Currency Fund Class, one of IKOS flagship funds. For the provision of these services, Acme has an agreement with IKOS to receive 7.2% of IKOS aggregate management and performance fees relating to the Fund.
The IKOS agreement follows an earlier transaction with Winton Capital Management Limited in 2006. Alpha Strategic will now enjoy a second, non-correlated revenue stream, which serves to expand and diversify the companys income base.
IKOS creates state of the art proprietary technology to benefit from high frequency trading in markets which are becoming increasingly electronic. The company has developed a skill set which allows it to place over 150,000 orders per day using the most liquid instruments, in the largest equity and financials markets. The strategies are traded on an innovative fully automated, globally distributed platform, supported by enhanced risk control systems.
This is an excellent opportunity for IKOS and Alpha Strategic, says Elena Ambrosiadou, CEO and co-founder of IKOS. What has emerged from our agreement is a proposition of elegant simplicity transparent, liquid, easy to trade and easy to understand. Retail investors gain access to the skills and resources of Winton Capital and IKOS, two of the most established and experienced managers within the hedge fund industry. We confidently expect that other managers will wish to participate in what promises to become a new benchmark of quality with accessibility.
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D.C.