Scalene Partners Launches FX Hedge Fund

Ken Kristensen and Todd Andrews are also partners in the Scalene fund. Mr. Kristensen was a principal responsible for trading the bank's U.S. dollar/deutsche mark and euro dollar book. He handles the intra-day trading methodology and its implementation. Mr. Andrews will use his experience in proprietary risk analysis at Bank of America in managing discretionary trading, idea generation and trade implementation at Scalene.

The group expects that the U.S. dollar will continue to be weak, after a decade of strength, Mr. Greenwald said. The euro will continue to have strength and longevity, he added. The Scalene fund's strategy includes the use of four times leverage.

The fund will be marketed to individual and institutional investors, with a US$500,000 investment minimum. Fees are 2% and 20%. Depending on the success of the initial fund, Scalene plans on exporting its trading methodology, essentially following the bell curve, to other areas such as futures and stock trading.

Providers for the new fund include Julius Baer as custodian through which Dresdner and Barclays act as prime brokers. Arthur Bell is the fund's auditor, while Swiss Financial is the fund's administrator.