HomeArticles»NI Science Park tenant helps launch innovative new £100m hedge fund
NI Science Park tenant helps launch innovative new £100m hedge fund
Posted on Wednesday 20 January 2010 byUlster Business
A Swiss-based hedge fund with expected assets under management (AUM) of $100 million which predicts currency market movements went live recently – and the key to its success lies in cutting-edge software developed at Northern Ireland Science Park (NISP) in Belfast.
Technology developed at Rantec Research will be operated by Hepta GFX Fund – a Geneva based firm – from January 04 2010. During 2009 Hepta tested the Rantec Research Software in separately managed accounts. Results produced an annual return of 108%.
Local entrepreneur William Kerr is managing director of Rantec Research Corporation Limited and co-founded Hepta GFX Fund with investment banker Alberto Ferro-Villani. Rantec Research originally grew from a business incubator programme at the Science Park which helps accelerate the development of fledging enterprises; through a range of business support services and resources.
Mr Kerr, an electronics engineer who previously worked in Silicon Valley, said: “Our product is based on theories designed to measure the velocity of randomly fluctuating fluid particles. We’ve taken this knowledge and applied it to the calculation of currency market movements in a bid to predict what the best next trade would be in various scenarios. The results have been extremely impressive so far and we are confident of continuing to produce a strong performance in our operations during 2010.
NISP chief executive Dr Norman Apsley said: “Rantec Research is the perfect example of how the cluster of R&D at NISP is producing pioneering companies with huge profit potential. Rantec’s cutting-edge technology for the financial markets is great evidence of the quality of our local talent base. The knowledge-based hub here is helping companies in Northern Ireland lead the way in innovation and this will only be further supported by Project Kelvin going live in 2010”.