CITIC Capital Announces Establishment of New Multi-Strategy Hedge Fund Platform for Global Clients


CITIC Capital Holdings Limited ("CITIC Capital") announced the establishment of CCTrack Solutions ("CCTrack"), to provide a new multistrategy hedge fund platform that targets institutional investors in North America, Europe and the Asian markets.



CITIC Capital Holdings Limited ("CITIC Capital") announced the establishment of CCTrack Solutions ("CCTrack"), to provide a new multistrategy hedge fund platform that targets institutional investors in North America, Europe and the Asian markets. 

The new platform, to be operated under the name CCTrack Solutions, combines the resources and expertise of CITIC Capital and senior management including Ron DIRUSSO and Robert SAVAGE, who are foreign exchange (“FX”) veterans with extensive experience with leading financial institutions. 

CCTrack will be a quantitative provider for FX Overlay, Risk Parity and alpha generation from short-term trading to relative-value skew positioning in global liquid markets covering FX, commodity, bond and equity and futures. The model approach strives to hedge client portfolios using quantitative strategies reducing correlation and risks while returning profits. The first offering will be launched in the first quarter of 2014.

Ron DIRUSSO, CIO of CCTrack, said: “We are excited about the launch of CCTrack, which enables us to deliver bespoke hedging solutions to clients. Through CCTrack, we are dedicated to create great returns from mixing and matching simple computer models with an optimal and moderate risk approach. With CITIC Capital as our major shareholder, we believe CCTrack is strongly positioned to be marketed to Chinese and regional clients, on top of the pension funds and endowments in North America and Europe, whom we have established longstanding relationship with.”

Robert SAVAGE, CEO of CCTrack, added: “The new fund will combine short-term trading models with relative-value options strategies. The traditional carry and trend daily trading models will also be involved in providing FX Overlay. The risk parity approach will provide a base-line of beta returns to clients as well. We see it as an excellent time to launch this multi-strategy solution as the field of competition has narrowed considerably, providing significant opportunities to serve clients. Our edge comes from the unique quantitative strategy, an active risk management approach and the team’s experience in markets.” Yichen ZHANG, Chairman and CEO of CITIC Capital, said: “CCTrack fits well with our growth strategy to expand and strengthen our outbound investment platform. As China expands its investment in the global markets, we envisage its need for solutions and capabilities for FX hedging and diversification to rise substantially and CCTrack solutions will provide a perfect access to outbound capital with a liquid investment strategy. I am confident that under the leadership of the highly respected team, CCTrack will further strengthen CITIC Capital’s positioning in the global alternative investment management space and provide investors in the region a brand new opportunity to participate in the global liquid market.”

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