Hedge Funds

Morgan Group launches new quant strategies


Morgan Group, a Bristol, R.I., family office, on May 1 opened up two new quantitative equity strategies to outside investors, marking the first time the firm has accepted outside capital in a meaningful way.

The new strategies will both invest long and short in highly liquid publicly traded U.S. equities and markets using a proprietary quantitative investment algorithm. Those equities must have a minimum market cap of $100 million and a minimum daily float of 50,000 shares.

Morgan's so-called black box was devised and is being managed by Les Gray, an engineer by training who founded Morgan Group with