Ivy Asset Management, a hedge fund in Garden City, N.Y. with USD5 billion in assets, is interviewing for an equity derivatives strategist as part of a plan to increase the firm's use of over-the-counter equity derivatives products, according to a company official. The firm began looking to hire at the start of the New Year and is hoping to fill the spot within the next several weeks, the official said.
The position is an expansion to the hedge fund, created to meet Ivy's increased push into the long/short equity derivatives market. The firm is looking to increase its use of total-return strategies to take advantage of the depressed equity markets. "We want this new strategist to develop trading concepts that help to increase returns on deals," the official noted. Ivy has been involved in long/short equity derivatives for several years. The deals are industry specific to sectors such as technology and biomedical.
