Launches & Closures

Options specialist 36 South starts market-stress tail risk fund


London-based options specialist 36 South has launched a new tail risk strategy, the Black Eyrar Fund, which made its debut this week.

Designed to perform reliably in periods of extreme market stress, the new vehicle is intended to complement 36 South’s Kohinoor Core and Kohinoor Series Three funds, which run a global macro/volatility hybrid strategy.

“While most investors want volatility investments just after major market moves when the price of insurance is very high, we believe in buying when it is affordable and having the patience to ride out the cycle,” said Jerry Haworth, co-founder and CIO of