15 Nov 2010
A team of former Morgan Stanley systematic trading specialists has established Quiris Capital LLP, an investment boutique focussed on delivering a proven risk-controlled currency strategy to global clients.
The Quiris team consists of six employees who worked together at Morgan Stanley from 2004 to 2010, managing in excess of US$3 billion. The team has a successful four year track record of delivering strong risk-adjusted returns through its currency strategy.
The managing partners are Justin Simpson, Chris Callan and Richard Mhende who have 36 years of combined experience at Morgan Stanley. Simpson was most recently head of Morgan Stanley Investment Management’s currency and commodity group, and was formerly Morgan Stanley's Director of Global Economics and Global Strategy for Currencies, Interest Rates and Emerging Market Debt. Callan was lead manager of the firm’s currency and commodity funds and has over fifteen years experience in researching and trading systematic strategies. Mhende managed fixed income and currency portfolios, with additional responsibility for the group’s risk, infrastructure and control functions.
The boutique’s investment approach is focussed on highly liquid, transparent instruments, primarily currency spot and short-term forwards contracts. Quiris concentrates on markets with high liquidity and identifiable inefficiencies or statistical patterns, and uses a quantitative approach to generate investment returns. The strategy is subject to a robust risk control framework at all stages of the investment process.
The firm has applied for authorisation and regulation by the Financial Services Authority, and plans to launch its first fund in early 2011.
The Quiris team consists of six employees who worked together at Morgan Stanley from 2004 to 2010, managing in excess of US$3 billion. The team has a successful four year track record of delivering strong risk-adjusted returns through its currency strategy.
The managing partners are Justin Simpson, Chris Callan and Richard Mhende who have 36 years of combined experience at Morgan Stanley. Simpson was most recently head of Morgan Stanley Investment Management’s currency and commodity group, and was formerly Morgan Stanley's Director of Global Economics and Global Strategy for Currencies, Interest Rates and Emerging Market Debt. Callan was lead manager of the firm’s currency and commodity funds and has over fifteen years experience in researching and trading systematic strategies. Mhende managed fixed income and currency portfolios, with additional responsibility for the group’s risk, infrastructure and control functions.
The boutique’s investment approach is focussed on highly liquid, transparent instruments, primarily currency spot and short-term forwards contracts. Quiris concentrates on markets with high liquidity and identifiable inefficiencies or statistical patterns, and uses a quantitative approach to generate investment returns. The strategy is subject to a robust risk control framework at all stages of the investment process.
The firm has applied for authorisation and regulation by the Financial Services Authority, and plans to launch its first fund in early 2011.
Justin Simpson, managing partner, Quiris Capital LLP, says: “Investors are increasingly seeking vehicles which can provide liquidity, robust risk management and portfolio diversification. Our disciplined quant approach to currency delivers these requirements and has a proven track record of providing attractive returns.
“Our expertise in portfolio management, research and quantitative modelling enables us to take advantage of global market inefficiencies and volatility to generate absolute returns. Our meetings with prospective investors show a strong interest in the strategy and we are looking forward to launching our first fund in the new year.”
