The strategy launched in 1997 as a European Long/Short fund as part of a New York-based hedge fund platform. Ten years later, the founder and fund manager spun out to launch another fund managed pari passu with the original. In 2009, the investment team became part of a family office, continuing to run their strategy which evolved into a global long/short fund. The team also oversees management of a pre-existing Long Only concentrated strategy for the family office.
How do you perceive/use CF Global?
CF Global is an outsourced global trading platform which in a relatively cost-efficient way improves our overall trade execution so that we can focus on stock picking. They also help onboard new sell side relationships, handling all administration and paper work.
How did you execute in the past?
We had an in-house trader from 1997 to 2008 who used his extensive relationships with the Street to source stock when necessary and to ensure best execution. We are a strategy that tends to buy and sell momentum which means that we rely on CF Global’s ability to find sellers or buyers in efficient ways.
Why CF Global?
We have known CF Global since Scott started the firm. Ed was our initial point of contact in New York and has been a huge help over the years. CF Global have done a good job integrating with Enfusion, our accounting platform, and as a result individual trade details seamlessly flow to fund admin and our prime brokers and when there are trade breaks they always deal with them quickly. We trust the firm and have been happy with the execution and responsiveness of everyone with whom we have worked.
In general, CF Global trader turnover has been fairly low and I hope this doesn’t change. There is great value in the relationship built with one’s trader.
Does it matter that the traders aren’t sitting in your office?
It used to be more important but with fast and efficient means of communication the location of the trader is less relevant. We tend trade in a similar fashion, giving general direction without micro-managing.
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