Wide range of strategies brings added value to California hedge fund

Patrick Welton, CEO of Welton Investment, a CTA, believed there was a better way to deliver to investors good, consistent returns from a managed futures portfolio. In 2003 his team started designing the Global Directional Portfolio, a global macro/managed futures trading fund that began trading in 2004 and now has about $500m in assets.

"I believed that done right, this could deliver on the real promise of alternatives," says Welton. "I felt strongly that you could improve the product-offerin