In 2003 his team started designing the Global Directional Portfolio, a global macro/ managed futures trading program that began trading in 2004 and now has about $500m in assets.
"I believed that done right, this could deliver on the real promise of alternatives," says Welton. "I felt strongly that you could improve the product-offering characteristics with thoughtful design."
The main problem with the strategy was "investor perceptions of volatility relative to return production and protracted
The week on Risk.net, March 10-16 2018Receive this by email