Boutique Firms: Single Managers

Sat Apr 1, 2006


Going it alone


If there ever existed a hedge fund firm that resembled a university research department, then it's name is probably Capital Fund Management. One of France's oldest hedge fund managers, having been founded in 1991, CFM has developed trading strategies based on a quantitative approach, which rely exclusively on statistical analysis for all trading and asset allocations in futures, equities and equity options.

To drive the technically-oriented investment process, CFM employs 42 staff, which includes 15 rocket scientists who hold PhDs in physics from prestigious institutions and are engaged in research, while another 15 engineering staff work in the highly sophisticated information technology department. Even Jean-Philippe Bouchaud, CFM's chairman, holds the title of chief scientist in the firm. Like many of CFM's key researchers, the managing director of research, Marc Potters, contributes to academic books and journals and teaches at university institutions.

"We are at the cutting edge of research and...

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