By Claire Makin
Managers with a near 27-year track record are hard to come by, especially if they operate in the managed futures space where only a handful have survived the rigours of time. The Denver-based Bornhoft Group is among these die-hard operators. As well as its longevity, the firm is unusual in having pioneered a specialised multi-adviser approach to managed futures at its inception in 1986.
|Brian Bell, Richard Bornhoft and Tom O’Donnell |
Richard Bornhoft, the firm’s president and chief investment officer, had been a commodity trading adviser (CTA) since 1979, and recognised the lack of correlation among CTAs because of their different trading approaches. “By combining CTAs we could capitalise on one of the greatest attributes of managed futures – its diversity,” he says.
Bornhoft’s Multi-Manager Program employs 15 or so CTAs who follow different strategies and methodologies to trade global interest rates, stock indices, currencies,...