A $28 billion hedge fund is pushing into machine learning
Lucasfilm/Disney
The group has created a new position titled "head of machine learning." The new role will oversee development of Man GLG's machine learning capabilities involving news and social media analysis, breaking market news, and visualizing complex data.
"We believe that machine learning techniques present an opportunity for discretionary investment managers, providing them with analytical tools to complement, and further enhance, their decision making processes," said Man GLG CEO Teun Johnston. "We are continually seeking to develop our offering for our clients and, as the amount of data available continues to expand, these techniques can supplement existing rigorous quantitative and qualitative analysis."
The firm has hired William Ferreira, formerly of Florin Court Capital, for the role. Ferreira previously worked as Technology Manager for Man AHL from 2011 to 2014. In that role, he was Chief Technology Officer for Man Systematic Strategies.
"I am excited about the opportunity to build Man GLG's machine learning capabilities, developing tools to support the firm's portfolio managers as they run high-conviction active portfolios," said Ferreira.
Man GLG isn't the first fund to try and make better use of the flood of data now available. Hedge funds have been turning to a "quantamental" investment strategy, using computer algorithms to comb through large data sets. In doing so, the funds are hoping to predict market behaviors to gain even the slightest advantage over competitors.
Learn more:
- Credit Card Industry and Market
- Mobile Payment Technologies
- Mobile Payments Industry
- Mobile Payment Market, Trends and Adoption
- Credit Card Processing Industry
- List of Credit Card Processing Companies
- List of Credit Card Processing Networks
- List of Payment Gateway Providers
- M-Commerce: Mobile Shopping Trends
- E-Commerce Payment Technologies and Trends
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Prince Harry and Meghan found out about Kate Middleton's cancer diagnosis on TV like everyone else, report says
- Kia India looks to expand sales, service network to 700 touchpoints by year-end
- Shapoorji Pallonji’s Afcons Infra files DRHP for ₹7,000 crore IPO
- Water crisis affects businesses across Bengaluru; Is there room for cautious optimism?
- BenQ Zowie EC2-CW review – Premium wireless mouse for gamers
- Banks' GNPAs set to improve further to 2.1 pc by FY25: Care Ratings