New York-based Caxton Associates has reopened one of its hedge funds to new investors due to the belief that there are a slew of investment opportunities.
Financial Times reported that Caxton’s main fund--which speculates on shifts between national economies via currencies, bonds or derivatives-- will begin accepting new capital for the first time in years.
Caxton explained to investors in a letter earlier this year that the fund’s reopening stems from the firm’s optimism in the “market environment in recent months, “ while the “previous regime was characterized by ‘trendless’ volatility in many parts of the capital markets.”
According to an eVestment article from last year, Caxton lowered its management and performance fees due to lackluster returns and pressure from investors.
Founded in 1983 by Bruce Kovner and Peter D'Angelo, Caxton manages about $7.2 billion in assets.