Yesterday, we discussed an incredibly shady hedge fund called SP Trader. Various reports confirm that investor in the futures fund have been unable to redeem their money
The fund has posted insanely abnormal returns, like 153% in 2004.
So we’ve been digging around to see what else we can find out about them.
SP Trader operates several websites with several different versions. None contain the official prospectus but a particular Google search turned up a PDF file with it. You can still download and view it by clicking here. The list of websites SP Trader operates is as follows:
The company lists several addresses on these websites and in the prospectus. Said addresses are in places like London, Switzerland, and the Virgin Island. All phone numbers for SP trader have been disconnected. We emailed SP Trader for comment but have not heard back.
The biography of SP Trader lists “Mark Roberts” as the managing director:
Mark Roberts, Managing Director SP Trader Age 52, began his futures and options career over 20 years ago trading Pit contracts. He traded foreign exchange contracts as well as the S&P. For a number of years before the inception of SP Trader Fund, he provided email alert signals to traders in the industry. The alert signal bulletin eventually developed into the SP Trader Fund as subscribers requested a fund utilising his program strategies. He has worked in every facet of the industry and is also a developer of trading systems. Mr. Roberts is also responsible for the SP Trader Fund Monthly Newsletter which is read widely in the industry by brokers, traders and other hedge fund managers. He is the Managing Director of SP Trader Fund and has overall management responsibility for the Fund.
One of our commentors pointed out this website to us, which investigates the various email addresses and phone numbers related to SP Trader. It appears the company didn’t even have a web presence until 2004 and uses a yahoo.com email address for communication.
Additional information about SP trader includes the following:
Firm: SP Trader Investments Capital Ltd.
Fund: Investment Futures, Growth Fund
Strategy Type: Quantitative, neutral, futures multi-strategy
Offices SP trader:Geneva, Switzerland
Minimum Investment: $25,000
Fees: $35 Roundtrip, 20% Performance Fee
Administrator: SP Trader Management Company Ltd.
Accountants SP Trader: Kingston Accountants
Lock Up: 6 Months
High Water Mark: Yes
Hurdle Rate: No
One of our favourite things we saw was this chart, which suggests that “SP TRADER” is an asset class, a la stocks and bonds.
We’ll continue to report on any new developments related to this story and SP Trader.