Dawnay Day Quantum gets new investment chief

Dawnay Day Quantum has recruited Dr Bill Kolubayev as director of investments as it prepares the launch of its first Oeic fund in the autumn.

Kolubayev will develop and manage open-ended funds under the Ucits III regime. For the past two years Dawnay Day Quantum has focused on closed-ended capital-protected funds.

Mark Mathias, managing director of Dawnay Day Quantum, says the Oeic funds will use quantitative techniques and derivatives for portfolio construction and risk management. He says they will maintain the “focus on defined risk and defined returns” of its four capital-protected funds whose underlying investments have included Chinese equities and commodities.

It is believed the first fund will buy equities from the FTSE 100 and then use derivatives to provide downside protection. This will be through selling call options and buying put options. This will enable the fund to lose only a set percentage each year, such as 5%, but will also limit upside returns.

The Oeic range will be based in Dublin and it is expected that the first fund will be launched in September.

Since 1987, Kolubayev has been both an analyst and a proprietary trader at Barclays Capital, Credit Suisse First Boston, Merrill Lynch and Morgan Stanley. He has a doctorate in chemical physics from New York University.

Mathias says: “We now have the capability to offer investors a range of Ucits III investment funds offering absolute returns, using risk management and well-defined investment processes. Few individuals have Bill’s length and depth of experience covering both quantitative analysis and experience of trading the derivative markets at investment banks.”