Zurich’s Rialto readies commodity-focused fund

Zurich-based Rialto Capital has added former Standard Chartered Bank commodities trader Giacomo Berta as a portfolio manager and head of quantitative research as it prepares to offer its second investment fund, Rialto Systematic.

Rialto, founded by Gerard Sanz in 2011, now runs the CH1m Rialto Global Macro Fund, which is up 10% since its inception in Q3 2011.

The fund, which has a low correlation to other major asset classes, invests in liquid futures, with 50% of its assets in equities and equal amounts in bonds, currencies and commodities. Strategies involved are focused on Relative Value Arbitrage with a constant Risk Management/Hedging overlay.

The fund’s best month was January 2012, when it was up 4.97%, but the following month was its worst as it dropped 1.64%. Rialto said performance was affected as it cut back equity risk exposure after a strong January.

A new fund, Rialto Systematic, will have seed funding of CH5m, and is scheduled for launch in Q3 2012. It will invest through a variety of quantitative strategies in global futures (commodities, FX, FI, stock indices) and global equities, with a high to medium/low frequency.

Sanz, a former Man Investments manager with 15 years in the industry, expects further volatility in all asset classes. “We view the global macro space and CTA strategies as very well positioned to take advantage of the opportunities that will surface in the next months and years.”

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