Press Release – BVI-based investment manager Bluenose Capital Management is on schedule to launch its managed forex program, Bluenose FX, on November 1, 2010.

The systematic forex program is aimed at U.S. qualified eligible persons as defined within CFTC rule 4.7 and non-U.S. nationals. The Bluenose FX program will be made available on a managed account platform at Interactive Brokers. The objective is to generate an annualized compound rate of return of 15% with lower downside volatility vs. the S&P500 and Barclay CTA Index benchmarks.

Business Partners

Bluenose’s JS Pelletier will be at the helm of Bluenose FX. Prospective investors will be required to open an account with Bluenose’s futures commission merchant, Interactive Brokers.

Terms
Min. Individual: $100,000
Min. Institutional: $5,000,000
Management Fee: 0%
Incentive Fee: 25%
High-Water Mark: Yes, for institutional managed accounts.
Lock-Up: None

Highlights
Systematic long/short strategies based on statistical learning models trading highly liquid currency pairs.
Neutrality of the program at the market level.
100% automated investment process.
Rigorous risk management practices based on adaptive fuzzy logic ensuring low downside volatility.
Full transparency.
Daily liquidity.

Using proprietary fuzzy adaptive models, Bluenose FX will engage in short-term mean-reversion strategies trading highly liquid currency pairs in the interbank market.  Bluenose FX Program Presentation.

Editing by Alex Akesson