+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

A $28 billion hedge fund is pushing into machine learning

Aug 21, 2024, 23:35 IST
Lucasfilm/DisneyMan GLG, a UK hedge fund overseeing $28.8 billion of assets as of March 31, is embracing machine learning.

The group has created a new position titled "head of machine learning." The new role will oversee development of Man GLG's machine learning capabilities involving news and social media analysis, breaking market news, and visualizing complex data.

"We believe that machine learning techniques present an opportunity for discretionary investment managers, providing them with analytical tools to complement, and further enhance, their decision making processes," said Man GLG CEO Teun Johnston. "We are continually seeking to develop our offering for our clients and, as the amount of data available continues to expand, these techniques can supplement existing rigorous quantitative and qualitative analysis."

The firm has hired William Ferreira, formerly of Florin Court Capital, for the role. Ferreira previously worked as Technology Manager for Man AHL from 2011 to 2014. In that role, he was Chief Technology Officer for Man Systematic Strategies.

"I am excited about the opportunity to build Man GLG's machine learning capabilities, developing tools to support the firm's portfolio managers as they run high-conviction active portfolios," said Ferreira.

Advertisement

Man GLG isn't the first fund to try and make better use of the flood of data now available. Hedge funds have been turning to a "quantamental" investment strategy, using computer algorithms to comb through large data sets. In doing so, the funds are hoping to predict market behaviors to gain even the slightest advantage over competitors.

Learn more:

NOW WATCH: A Tesla bull makes his case: 'We think it's real .... it's a good car. That's not a fluke'

Please enable Javascript to watch this video
You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article