NEW YORK--(EON: Enhanced Online News)--CoastRock Capital Management LP, a NY based largely systematic long/short equity hedge fund, today announced that its flagship fund has won the “Most Innovative Alternative Asset Manager” and “Recognized Leader in Risk Budgeting” awards from Acquisition International Magazine for 2017 in New York.
“As we continue to optimize our existing models and develop new models, we expect higher returns while maintaining low levels of volatility.”
The awards conclude a positive first year for the fund, which launched in January 2016. CoastRock posted an annual gain of 4.40% with an annualized volatility of only 2.02%. Comparatively, the HFRX Equity Market Neutral Index posted an annual loss of -5.08% with an annualized volatility of 3.05% and the HFRX Equity Hedge Index posted an annual gain of 0.10% with an annualized volatility of 6.68%.
CoastRock Capital Management Managing Partner Peter Hamamji said, “We are very pleased with our 2016 results given how tumultuous the markets have been this past year. Considering the quantitative nature of our strategy, we are less concerned with the day to day noise in equity markets and more focused on making sure our models can quickly adapt to varying market conditions. Maintaining low volatility while we establish our strategy and investment process has been the primary objective since launching.”
Following the positive year-end results and proven risk averse investment strategy, CoastRock is opening the fund to new investors. “We are actively fundraising in 2017 and are looking forward to the arrival of additional capital,” said Mr. Hamamji. “As we continue to optimize our existing models and develop new models, we expect higher returns while maintaining low levels of volatility.”
About CoastRock Capital Management
Founded in 2015, CoastRock Capital Management is a largely systematic quantitative long/short equity hedge fund. It employs 5 core models that work in tandem to maximize risk adjusted returns while remaining market neutral throughout varying market conditions. The underlying thesis behind the fund’s strategy is leveraging software, data, and quantitative analysis to attempt to predict future price movements of US equity markets. Quantitative models are developed in-house and range from optimizations to machine-learning. CoastRock actively manages both portfolio and operational risk through its disciplined risk budgeting approach. For more information, please visit www.coastrockcap.com.