Launches & Closures

Excalibur futures vehicle targets $100 million

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Sydney-based Excalibur Management is looking to raise as much as $100 million from Asian and European investors for a strategy that systematically trades S&P500 index futures.

Matthew Harper, one of the principals of the firm, said the systematic trading strategy went live in May when they received $3 million seed money from an Australian family office and the strategy has managed to post 6-7% in returns so far. A six-year back test of the strategy indicated average returns in excess of 25% per annum.

The trading system generates the same signal as the program employed by Excalibur in