- New independent investment specialist focusing on overlay management and short-volatility strategies
- Long-term added value for institutional investors
- Pension fund of the Berlin dentists‘ association and asset management company Assenagon hold an interest in the company
Added value for investors
“We are clearly focused and independent. This makes us free from all conflicts of interest. At the same time, focus and independence are essential for both the cost-optimized implementation of our strategies and attractive performance,” says Tindaro Siragusano, CEO of 7orca, adding: “Our experienced team of experts and our strong technology platform will help us provide sustainable innovations and added value to institutional investors.” While the number “7” reflects the number of founding members, “orca” stands for overlay, risk, currency and alpha: “Our expertise is in quantitative overlay management to hedge existing risks as well as to achieve widely uncorrelated performance. Our team has many years of experience in currency management. It is our goal to achieve positive and consistent performance,” says Siragusano.
Experience in management positions
The founders are a well-coordinated team that has worked together closely for many years. Tindaro Siragusano (CEO), Jasper Düx (CIO), Thimo Koch (CRO/CCO) and Holger Bang, Arne Decknatel, Dr. Ulrich Janus and Tom Pansegrau as well as Jochen Runze previously held executive positions at Berenberg, where they were in charge of establishing an asset management group, also focusing on overlay and short volatility with assets under management of approximately 17 billion euros. Five experts have already been added to the team, and there are plans for more hiring.
Specialisation in currency overlay and short volatility
7orca will focus on currency overlay and short-volatility strategies. “With these two topics, we can provide answers to two essential questions our customers ask: How do you respond to increased foreign currency risks due to global diversification and what is a sustainable alternative source of income to generate stable profits in a low-interest environment?”, says Jasper Düx, CIO of 7orca. In the implementation of these strategies, 7orca will give special consideration to cost efficiency and the intelligent implementation of regulatory requirements, such as using forward exchange transactions as well as FX futures.
Renowned strategic investors
The pension fund of the Berlin dentists’ association holds a share in 7orca. “We were a customer of the overlay team for more than ten years,” states Ralf Wohltmann, manager of the pension fund and chairman of the board of 7orca. “We are pleased to be able to assist the team on its road to becoming independent and we will also commission the company at around 300 million euros.”
Besides the pension fund, renowned asset manager Assenagon also holds an interest in the company. “7orca is a strong team with expertise and years of experience,” is how Vassilios Pappas, co-founder of Assenagon and deputy chairman of the supervisory board of 7orca, explains his confidence, emphasising: “We believe in this business model, we know the track records of the people in charge, and we wish the team an excellent start as an independent company.”