Vermillion introduces market neutral quant fund


Vermillion Asset Management has begun raising money for a quantitative market-neutral fund that it has been trading since June.

The Cyan Opportunities Fund is Vermillion’s second offering. The New York-based firm, which manages $350 million, also runs the Viridian fund, a relative-value commodities vehicle launched in June 2005. Viridian was up 1.6% in August but down 0.80% for the year as of August 31.

Cyan has produced far superior performance. The fund gained 1.36% in June, 6.0% in July and 6.01% in August, for a total of 13.90% through its first three months.

Cyan, managed by Vermillion co-portfolio