Alternative investment management company, Bandon Capital Management, LLC, has hired J. Michael Miller as Managing Director responsible for the development and management of the financial intermediary market.
Miller has over 25 years of experience in building, leading and managing intermediary distribution organizations and has held senior level positions with multiple national firms including Federated Investors Inc., Weiss, Peck & Greer, LLC, mPower/Morningstar and most recently was Managing Director for Concord Wealth Management.
Bandon is focused on delivering the attractive investment characteristics of alternative investing – absolute returns with low correlations – to a wider audience while minimizing or eliminating many of the structural negatives including high minimums, high fees, long lock ups and lack of liquidity and transparency.
Bill Woodruff, Founder and Managing Principal, said “We are delighted to have someone with Mike’s experience and track record joining the firm. We look forward to further expanding our relationships with the financial intermediary community and providing access to non-correlated, absolute return oriented strategies to a market starving for quality solutions”.
Bandon’s flagship strategy DIRS – Directional Interest Rate Strategy – is quickly approaching its 5 year anniversary with historical average net ROR of +7.23% per year, annualized standard deviation of 6.56%, and very low correlation with the major equity indices, as evidenced by a correlation of -.08 to the S&P
500 and -.05 to the Barclays Aggregate from August of 2004 through June 30th of 2009.
Bandon’s strategies are offered in multiple structures with DIRS, the flagship strategy, currently offered as a separately managed account that can be held at most major custodians. A separately managed account is an increasingly attractive structure in light of the recent hedge fund abuses associated with private pooled vehicles.
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