Wednesday, August 14th, 2013

A unique Global Macro Hedge Fund designed to deliver attractive returns, excellent liquidity, and low correlation with the major asset classes.

Sydney, Australia – The Zen Capital Management Global Fund recorded a loss of 1.11% (gross) for July. This is the first period of underperformance against the HFRI Index following four consecutive months of outperformance. The underperformance was the result of Zen undertaking a major technology upgrade in the first half of the month.

Managing Director Gregory Carroll said “with the benefit of hindsight our technology upgrade was executed at an unfortunate time. Many securities performed well in the first half of the month and did very little in the second half. The S&P500, for example, recorded 75% of its gain for the month over 5 trading days at the beginning of the month”.

For the first five months post launching the fund, Zen reported intermittent interruptions to its data feeds. Whilst the firm resolved the problems in February they noticed some data gaps at the beginning of July. With an inability to analyse and trade with incorrect data, the firm brought forward the implementation of a major technology upgrade. The upgrade involved changes to hardware, software and data feeds and was designed to improve the accuracy, reliability and security of Zen’s systems and data.

Mr Carroll said “in bringing forward our technology upgrade we missed the majority of low-risk opportunities that arose over the month. Regardless of this, the upgrade went extremely well and will bring great benefits to our business in the months and years ahead”.


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Zen Capital Management

Zen Capital Management was formed in 2012 with the sole purpose of providing Investment Advisory services to the Zen Capital Management Global Fund SP. The company employs a proprietary investment process which is driven by a rigorous quantitative model, macro-economics, and over decade of experience in financial markets. Zen’s strategy is highly scalable since it only trades highly liquid securities consisting predominantly of US-listed stocks. The fund is Cayman-domiciled and is currently available to wholesale investors who are non-US taxpayers. The fund is administered by Apex Fund Services and all trading is through Interactive Brokers LLC. The fund commenced trading on 1 October 2012.


Systematic, Long/Short Equity, Hedge Fund.


Gregory Carroll
P: +612 8005 2308
M: +61414419396


Global Macro, Hedge Fund



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