Maverick Capital, a $10.5 billion hedge fund, is jumping on one of the hottest trends in investing
AP Images
The Maverick Fundamental Quant Funds will accept money starting January 1, 2018 and will close once assets reach $1 billion in each, the documents show. The funds will prioritize existing Maverick investors.
Traditional stock pickers have been venturing into quant strategies over the past few years. And quant strategies have been hoovering up assets.
"Data science and quantitative analysis continue to hold the attention of the fundamental managers," Carlos Meija, managing partner at recruiting firm Options Group, said in a recent report. "On the one hand, they are eager to explore the ways in which big data can fuel idea generation and position management; and on the other hand, they are worried about how to compete with quantitative/systematic investors and HFT firms. As a result, equity hedge funds are hiring data strategists, scientists and engineers."
Dallas-based Maverick's flagship fund, meanwhile, had made no money as of mid-year, Business Insider earlier reported.
Dallas-based Maverick, which as of mid-year managed about $10.5 billion firmwide, primarily blamed its short book.
NOW WATCH: RAY DALIO: Bitcoin is a speculative bubble
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Rupee falls 6 paise to 83.39 against US dollar in early trade
- Markets decline in early trade; Kotak Mahindra Bank tanks over 12%
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- Data Analytics for Decision-Making
- Experts warn of rising temperatures in Bengaluru as Phase 2 of Lok Sabha elections draws near