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Betting Against the Crowd

Trend Capital’s discretionary, diversified approach pays off

Trend Capital is not a trend-following investment adviser, and nor will its discretionary trades necessarily follow trends. “We are not contrarian by design but we can be at times” says manager Ashwin Vasan, CIO of Trend Capital Management LP. The potential to bet against the crowd was one quality that attracted Union Bancaire Privee (UBP) to Trend Macro.

UBP, which manages $110 billion, has been investing in hedge funds since 1972 and was familiar with Trend Capital before UBP set up its U- Access Ireland UCITS platform in 2014. “We were already invested in the Trend Macro strategy and had high conviction in the manager from an investor perspective,” says Yves Guntern, Managing Director of UBP Alternative Investments. UBP carries out dedicated research building on its hedge fund DNA to find what it views as the best funds for portfolios and mandates. “We selected Trend Capital for its investment profile and background. We only on-board managers who we have high confidence in and who have gone through our due diligence process,” explains Guntern. Vasan has been in the markets since the early 1990s and investors can have sight of track records from both Tudor, where he spent a decade as a partner, and Shumway, where Vasan developed the macro strategy that is now traded at Trend Capital. Indeed, Shumway co-founder and ‘Tiger Cub’, Chris Shumway, used his family office to seed Trend Capital; Vasan is now dubbed a ‘Tiger Grandcub’.

UBP perceived a gap in the market as Guntern’s opinion was that “few top discretionary macro managers offered UCITS feeders.” This void has now been populated: UBP Trend Macro won The Hedge Fund Journal’s UCITS Performance Award for ‘Best Performing Macro Fund in 2015’. The Trend Macro strategy also outperformed the broader peer group, including non-UCITS funds, as measured by the HFRI Macro benchmark in 2015.

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About The Hedge Fund Journal

INFORMING THE HEDGE FUND COMMUNITY With access to some of the industry’s biggest names and an astute and talented group of writers and contributors, The Hedge Fund Journal has established itself as a trusted source of information on the hedge fund industry.

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