Key Takeaways
- • Dirk Jeschke, 32-year-old former portfolio manager at Tudor Investment Corporation (Paul Tudor Jones' hedge fund), is launching a macro hedge fund based in London with a planned Q1 or Q2 2018 launch date.
- • Jeschke's fund will focus on medium- to long-term systematic macro strategies with an emphasis on diversified return streams across asset classes, investment styles, and market flows to balance volatility and business cycle risk.
- • Jeschke spent three years at Tudor Investment Corporation (2015–May 2017) managing multi-asset class macro strategies before departing to establish his independent venture.
- • Prior to Tudor, Jeschke held senior roles at PIMCO's macro hedge fund and G-10 rates/FX team, as well as Morgan Stanley's quantitative and derivative trading strategies team in Hong Kong, providing deep experience in systematic trading and risk management.
- • Jeschke's departure represents continued talent migration from Tudor Investment Corporation; fellow Tudor staffer Dario Villani, global head of portfolio strategy and risk, is also establishing a new venture.
Summary
Dirk Jeschke, a 32-year-old portfolio manager who spent the past three years at Paul Tudor Jones' Tudor Investment Corporation, is preparing to launch an independent macro hedge fund based in London. The fund is expected to commence operations in the first or second quarter of 2018.
Jeschke's fund will differentiate itself by emphasizing medium- to long-term systematic macro strategies with a focus on portfolio diversification and balance. According to Jeschke's own statement to Business Insider, the fund's core strategies will be selected based on sound economic rationale and demonstrated long-term risk-adjusted returns across full business cycles. The strategy will generate returns from diversified exposure to multiple asset classes, investment styles, trends, and market flows, with the objective of creating a portfolio resilient to short-term volatility, liquidity shocks, and business cycle turns.
At Tudor Investment Corporation, Jeschke served as a portfolio manager from 2015 through May 2017, where he focused on multi-asset class macro strategy. His professional background includes substantive experience in systematic macro investing: he previously worked on PIMCO's G-10 rates and foreign exchange team and contributed to PIMCO's largest macro hedge fund. Earlier in his career, Jeschke was part of Morgan Stanley's quantitative and derivative trading strategies team based in Hong Kong, where he developed expertise in quantitative methods and derivatives.
The announcement of Jeschke's departure follows a similar move by Dario Villani, Tudor's global head of portfolio strategy and risk, who is also preparing a new investment venture. These departures signal ongoing talent migration from the Tudor organization.
Jeschke's fund will differentiate itself by emphasizing medium- to long-term systematic macro strategies with a focus on portfolio diversification and balance. According to Jeschke's own statement to Business Insider, the fund's core strategies will be selected based on sound economic rationale and demonstrated long-term risk-adjusted returns across full business cycles. The strategy will generate returns from diversified exposure to multiple asset classes, investment styles, trends, and market flows, with the objective of creating a portfolio resilient to short-term volatility, liquidity shocks, and business cycle turns.
At Tudor Investment Corporation, Jeschke served as a portfolio manager from 2015 through May 2017, where he focused on multi-asset class macro strategy. His professional background includes substantive experience in systematic macro investing: he previously worked on PIMCO's G-10 rates and foreign exchange team and contributed to PIMCO's largest macro hedge fund. Earlier in his career, Jeschke was part of Morgan Stanley's quantitative and derivative trading strategies team based in Hong Kong, where he developed expertise in quantitative methods and derivatives.
The announcement of Jeschke's departure follows a similar move by Dario Villani, Tudor's global head of portfolio strategy and risk, who is also preparing a new investment venture. These departures signal ongoing talent migration from the Tudor organization.
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