A statistical-arbitrage shop is launching its first broad marketing
campaign. Logica Capital recently hired Steven Greenblatt to lead the push for its market-neutral equity fund. He’s now reaching out to a range of investors, including family offices, funds of funds, foundations and advisory platforms at banks.
The vehicle, Logica Fund, launched in January 2015 and currently runs about $20 million of partner and “friends-and-family” capital. The fund gained 9% last year and is up 2.9% this year through May, broadly outpacing both the S&P 500 Index and comparable hedge funds. Hedge Fund Research’s Equity Market Neutral Index, for instance, rose 4.3% last year and is virtually flat this year
Lionel Tapiero and Wayne Himelsein, partners at Logica Capital Advisers, a Los Angeles-based asset manager formed in 2011 said that their strategies are designed to be fully neutral to market regime shifts and shocks. “Accordingly, the effect of Brexit is two-fold,” they explained to Opalesque. “Our absolute return profile – both in real time and the future – is unaffected, but given that fact, our relative return profile (that is, our return vs. the broader market and our competitors) is quite a bit better given that most are affected. To us, this increase in relative performance is the best possible effect of being absolutely unaffected, and precisely the goal of comprehensively neutral de