Cube Capital’s contrary approach pays off

Tue Jul 5, 2011

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A willingness to invest in markets where others fear to tread has enabled the firm to survive the financial crisis and to thrive in its aftermath


By Claire Makin

François Buclez
Put some very smart investment bankers in charge of a fund of hedge funds, and the result is a racing version that makes the traditional model look a bit clunky, like a Ferrari alongside a Cadillac.

For a start, says François Buclez, who co-founded Cube Capital in 2003 along with Alan Sipols and Oleg Pavlov, Cube is a hands-on dynamic allocator with strong macro views. The team is not afraid to use complex overlays (not just ETFs and index futures) and even invests directly in the market if the trade and the timing are right.

Cube also seeks out dislocated markets – "the interesting and unloved", as Buclez puts it – and does not shy away from investing in highly volatile managers as long as it understands what is driving the volatility.

These features have helped propel the firm’s flagship Cube Global Multi-Strategy to a 10.3% average...

ISSN: 2151-1845 / CDC10004H

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