Hedge Funds

DE Shaw aims high for $10bn long-only prize

by

In a reversal of the usual migration of long-only money managers into hedge fund management, D. E. Shaw is preparing to unveil a long-only enhanced index strategy - and the firm has ambitious plans to raise $5 billion to $10 billion for the program over the next five years.

Like every other investment strategy rolled out by the $6.6 billion New York quantitative-oriented firm founded by David E. Shaw, the product has been carefully incubated. Tied to the S&P 500, the new offering has been designed to outperform the index by 50 to 200 basis points through the