Hirst Launches Hedge Fund
Alternative Investment News
By Pamela Appea
Hirst Investment Management, an Orlando-Fla. Based alternative investment firm is launching the Hirst MetaStategy Ltd. Fund, targeting investors with a minimum investment of $100,000.
The hedge fund uses what Gary Hirst, founder and chairman of Hirst Investment Management, calls a computational intelligence model that puts about 20 major hedge fund strategies to use, including long/short, emerging markets, market neutral and merger arbitrage.
This system, Hirst said, will create allocations for different investment styles and targets steady annualized returns of 18-20% a year.
“I’ve been in alternative investments for 27 years,” Hirst said. “And the most important factor in determining your investment return and risk is your choice of styles.” The fund carries a 2% management fee and a 20% performance fee, he added.
“We’re not going to make 50% any year,” Hirst said, noting his main goal for the fund is preserving capital, not trying to achieve wildly above-average returns. “If you can make 20% a year, every year, that’s a good return,” Hirst said.
Originally published January 15, 2001
