Michael Jordaan company to launch a unit trust
Former banking chief executive, Michael Jordaan, is set to launch a unit trust through NMRQL, a quantitative investment management business based in Stellenbosch.
Jordaan, who headed up First National Bank for many years before stepping down at the end of 2013, now runs private investment company, Montegray Capital, while also providing a strategic-hand to various businesses including NMRQL.
NMRQL, of which Jordaan is director and chairman, is an investment management company with a bias towards quantitative research and algorithmic trading.
In his own words, Jordaan describes the company as “a quantitative asset manager that uses Machine Learning to outperform human investment managers and to do so at much lower cost”.
“The historical simulations – which take transaction costs, trade capacity, market liquidity and slippage during volatile periods into account, indicate that our algorithms are extremely robust and outperform the market relatively consistently,” he said.
“After operating as a hedge fund for some two years and experimenting live with our own funds we feel ready to launch a unit trust in the next three months,” he told BusinessTech.
Unit trusts are portfolios of assets such as equities, bonds, cash and listed property, in which investors can buy units.
Following his term at FNB, Jordaan launched investment company Montegray Capital, which targets businesses with a minimum two year trading history, proven customer traction and potential for rapid growth.
His company provides growth-stage funding of between R2 million and R5 million, while taking ‘a meaningful minority share’.
Jordaan counts NMRQL as a partner of Montegray Capital, with Thomas Schlebusch serving as the company’s founding director and CEO.
Schlebusch is set to be the key individual for the NMRQL fund having served as CIO of the Sanlam International investments business before co-founding NMRQL in 2015.
NMRQL claims R31 Million in assets under management while investment in the NMRQL fund is limited to qualified investors with a minimum investment of R1 million.
Read: Virtual currencies will compete with national currencies: Michael Jordaan
Loading ...