Fimat Group has been appointed a prime brokerage to the London-based Shooter Multi-Strategy hedge fund.
The new arbitrage fund is the first product from Shooter Fund Management, an asset management company set up by options trader Mark Shooter in collaboration with the Kyte Group, the financial group headed by derivatives trader David Kyte.
The fund has stated that it aims to start with assets of around $10-15m including substantial commitments from Shooter and Kyte themselves, and will concentrate on European volatility trading.
“We are glad to see yet another new player emerging within the volatility trading sector, and the Fimat Group is ideally placed to provide Shooter Fund Management with the dedicated services it needs to realize its strategies.” says Philippe Teilhard, Managing Director of Fimat Alternative Investment Solutions in London.