Phil Moore, special reports writer, HedgeFund
It took several years of patient negotiations, but a
significant milestone was reached by Lyxor last October, when
Tudor Investment Corporation finally agreed to join its managed
account platform. The launch of the Lyxor/Tudor Momentum Fund,
which replicates the trend-following component of the Tudor
Tensor quantitative managed futures programme, was a
significant detail in the progress of managed accounts for at
least two related reasons.
The first is that the new willingness of Tudor to sign up to
a managed account platform is emblematic of an important change
of attitudes within the hedge fund world to the managed account
concept. For many years, Tudor had been one of a number of
hedge fund managers that had stubbornly resisted the advance of
platforms such as Lyxor's.
It is probably stretching the truth to say that it was
Tudor's change of heart that reopened...