Titan Capital Group, a New York-based hedge fund firm with USD700 million in assets under management, is planning to launch a volatility arbitrage fund. The fund, which is expected to launch by March 1, will be focused on fixed-income and foreign exchange.
The firm has hired several people to work on the new fund, said a Titan official. He declined to name the individuals, as they have not yet joined and are still employed at their old firms.
The new fund will have a USD1 million minimum investment, carry a 1.5% management fee and a 25% performance fee. Titan also has three other funds: Titan Volatility Fund, which was launch in February 2001, and the Titan Asia Fund and Titan Global Fund, both of which were launched in August 2001.
