Hyman Beck, a Florham Park, N.J., systematic trend follower with $450 million under management, has launched a relative value and volatility arbitrage fund managed by Ron DiRusso.
The new Volatility Analytics Portfolio intends to log returns in the mid-teens through a quantitatively driven strategy that makes short-term bets in over-the-counter options. The fund runs $55 million and could grow to as much as $500 million.
DiRusso joined Hyman Beck in October 2005 from Northbridge Capital Management of Edgewater, N.J. Previously, he was a managing director in Lehman Brothers' global foreign exchange options trading group and was a senior options trader