HedgeCo.net – New York, NY, March 10, 2007 – Thales Fund Management is formally
announcing the launch of the Leros Fund — a quantitatively managed
130/30 strategy designed to match or exceed the returns of broad-based
US equity indices with significantly lower volatility and beta to
benchmark indices. Leros has just completed its first full year of
trading and the performance has given the firm the confidence to open
the fund to outside investment.
The Leros Fund is quantitatively modeled to maintain 100% net exposure
to large & mid-cap US equities with a dynamically optimized
market-neutral long-short overlay. This overlay can vary between 30/30
and 60/60. Leros’ unique and flexible variable overlay approach
differs from the static 130/30 overlay used by other funds in this
category.
Leros’ main objective is to produce the highest Sharpe ratio possible
with 100% net exposure to equities. This is achieved not only through
alpha generation on both the long and short sides of the portfolio, but
also by applying superior quantitative risk management techniques to
markedly reduce overall volatility.
“We think that Leros provides all the benefits of owning US equities
with considerably less risk. Our alternative variable overlay approach
takes the 130/30 investment strategy one step further, allowing us to
better adapt to constantly changing stock market conditions,” said
Marek Fludzinski, Thales Founder and Portfolio Manager for the Leros
Fund.
“With our considerable expertise in quantitative modeling, short
selling and controlling portfolio volatility, we are confident that this
fund will stand out from the crowd of new entrants into this
strategy.”
Dr. Fludzinski and his senior team at Thales have been managing
quantitatively driven market-neutral portfolios for over thirteen years.
This latest offering is a logical extension of the firm’s core
strengths, including volatility forecasting and understanding market
correlation structures. The Leros Fund will be marketed to qualified
institutional investors.
About Thales Fund Management, LLC
Thales Fund Management is a New York-based SEC-registered investment
advisor to the Thales Funds, the Temujin Funds and the Leros Funds. The
firm has been specializing in quantitatively based market-neutral
strategies since 1999 and manages approximately $2.1 billion for
domestic and international clients.
Sophie Sophaon l Walek & Associates l Office: 212.590.0522 l Cell: 202.270.4870 l ssophaon@walek.com
