Global Directional Portfolio: Welton Investment Corporation

Wide range of strategies brings value to California hedge fund

In 2003 his team started designing the Global Directional Portfolio, a global macro/ managed futures trading program 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-offering characteristics with thoughtful design."

The main problem with the strategy was "investor perceptions of volatility relative to return production and protracted