Cassiopeia leads vol funds in wild month


Volatility trading funds generally had more cause for cheer than most in the highly volatile market environment in May, with all but one ending the month with a positive return.

Cassiopeia – the long-running Swiss-based fund – was the best performer, gaining almost 4% on the month. The fund is also way ahead of its peers for the year to date, having made more than 9% – and is annualising at almost 14% since July 2004.

StormHarbour Alternative Investments Convexity (the former Fortrinn Convexity fund, run by ex-MKM Longboat founder Keith DeCarlucci) made 2.23% in May, but remains