Quant-based firm's highly liquid TOPS-style fund has rebounded from last year's losses to make a 9% gain in the first half of 2009
One year on from its launch, GSA Capital's TOPS-style Alpha Capture fund is starting to gain traction - both in terms of the market-neutral fund's performance and in the quality of brokers submitting global equity recommendations to the quant-based firm's proprietary optimisation process.
The fund is up by around 9% this year, and is roughly flat since inception after launching in July ahead of the brutal equity market conditions in the second half of the year. The strategy, which was previously traded within GSA's flagship International fund for several months before being rolled out as a standalone entity last July, was narrowly positive over the full 12 months of 2008. However, the fund was down by about 10% from launch to the end of December.