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
The week on Risk.net, July 14–20, 2017Receive this by email