Astin to exploit volatitlity of Western European stocks

Astin Capital Management is planning on launching an open-ended volatility arbitrage fund on 2 December to be called the Astin Vega Fund. The fund aims to return between 1% and 2% per month by exploiting the volatility of Western European stock prices and indices, without taking directional bets on markets. The Astin team comprises a group of former proprietary traders, Charles Bray, David Ummels and David Beever, drawn from firms including CSFB and Barclays Capital. Ummels, Astin's chief