Investment Manager Overview
Boston and Alexander trade a combination of financial instruments to create arbitrages; arbitrage meaning a strategy in which much of the market risk is theoretically hedged. The substantial majority of our strategies are based around or upon a convertible bond. This process means that theoretically they are able to make returns without any directional market bias. The relationship between the instruments traded should be causal not historic. The result is an investment process motivated by theoretically certain future returns not one motivated by the uncertain future development of returns.
The Fund contrive to produce alpha returns in the purest possible fashion. The Fund invests in this fashion because in time it should produce compelling risk adjusted returns that have little or no correlation with price performance of any of the major asset classes. The process so executed should, in theory, provide a measure of protection for the investor.
The Team
Rory Passey (Fund manager)
Rory Passey has traded straight bonds and convertible bonds since 1981. Originally employed by Akroyd and Smithers, he assumed sole charge of trading and risk management of Euro Sterling Bonds in 1983. He moved to James Capel in 1986 and was responsible for all Euro Sterling bond trading. In 1992 he was hired by CSFB UK Ltd as a Director with joint responsibility for establishing European equity proprietary trading. He held various advisory positions through the mid 1990s, advising on convertible bond and other derivative strategies.
He was hired by Jefferies International Limited in August 1997 with responsibility for structured product trading and research. Subsequently hired by Fortis as head of convertible bond arbitrage propriety trading, his most recent position on the sell side was at Commerzbank UK as head of convertible bond research.
Patrick Hall (Partner)
Patrick is COO and responsible for all the non-trading aspects of the business.
Patrick has been working in the financial markets for over 20 years. Patrick trained with Chemical Bank in the Foreign exchange department before spending 10 years at Citibank. He was appointed global head of FX proprietary trading in 1997 focusing on currencies and fixed income as well as joining the global management team. In 2002 Patrick left to establish Magi Fund (Global Macro) as Chief Executive. In 2004 he joined SemperMacro where he was a Partner before joining Nylon Capital LLP in February 2007.He was appointed CEO in November 2007 responsible for risk management and all business issues.
James Foster (Analyst/Operations)
James’s main responsibilities are assisting with the portfolio and managing general operations. James graduated from the University of West of England with a degree in Business studies before joining Fidelity on an internship as a Regulatory reporting analyst for the UK and Ireland. In 2006 he moved to the operations team at PCE Investors. In 2007 he joined Boston and Alexander in his current capacity.
Website of Investment Manager: www.bostonandalexander.com
