Capital Fund Management (CFM) is a pioneer in diversified, alternative investment strategies that provide a source of return to our investors with a low correlation to traditional equity and bond markets.
Investors can access a highly risk-controlled and systematic investment framework, participating in the benefits of rigorous diversification and the opportunity to access returns from plausible, repeatable market patterns, or phenomena.
CFM is among but a handful of global investors to apply academic techniques to dynamically and stringently test every investment strategy.
Our firm’s culture derives from academic excellence, enhanced by an ongoing investment in people, our unique research capability and foundation technology.
CFM is proud to be leading a vanguard of investment managers seizing opportunity from massive shifts in data proliferation globally.
Our firm manages a number of quantitative strategies. We trade liquid instruments across global markets, including futures, equities, bonds, options, and spot and forward foreign exchange.
Our systematic trading strategies seek to profit from statistically significant price inefficiencies. Removing the guess work from investing, CFM dedicates significant resources to investing in a scientifically rigorous and disciplined manner.
Our investors include Pension Funds, Endowments, Sovereign Wealth Funds, Foundations, Fund of Funds, Private Banks, Insurance Companies and Family Offices. We have offices in Paris, London, New York and Tokyo. See more about our global business here: www.cfm.fr
In addition to carrying out research on new strategies, CFM has strong links to a number of universities. Our researchers contribute to the advancement of knowledge in finance and economics by lecturing and regularly publishing academic articles.
Innovation, Research, Humility and Collaboration
CFM takes pride in its distinct culture and values – a product of our people and longevity.
Over three quarters of our people are researchers and developers, creating an environment more like a research-focused, technology firm than a finance company. Most CFM researchers have scientific PhDs and, unusually, their background prior to joining CFM is almost exclusively academic.
Our collaborative culture is reflected in low turnover: once people join CFM they tend to stay. This is a function of working in an environment of creativity and intellectual rigour – not to mention the satisfaction of being involved in solving some of the most intellectually challenging problems in global financial markets.
Collaboration is essential for CFM and is actively encouraged.
CFM has retained its entrepreneurial spirit and, importantly, our ownership structure gives the firm control and autonomy to make decisions collectively about how the firm is run, and its future direction.
CFM was founded initially as a partnership in 1991. The firm is focused on in-depth research, state-of-the-art IT infrastructure and experienced risk management. CFM invests in applied scientific research and sophisticated information technology systems to extract value across securities, futures, foreign exchange, options and other derivatives on a global basis.
CFM founded by Jean-Pierre Aguilar. The Managed Futures program established.
Creation of Science & Finance, founded by Jean-Philippe Bouchaud and Jean-Pierre Aguilar, as the research arm of CFM.
Marc Potters joins.
Jean-Philippe and Marc co-author Theory of Financial Risk and Derivative Pricing.
The Equity Statistical Arbitrage strategy is introduced; Jacques Saulière joins.
Start of electronic trading
Launch of the Quantitative Multi-Strategy program, marking the diversification of the firm.
Launch of the Equity Volatility Arbitrage strategy.
Philippe Jordan joins.
Launch of the Directional Volatility strategy; creation of the CFM Foundation for Research.
The management team of CFM, and Dyal Capital buy out Jean-Pierre estate, following his death.
Launch of a new, high capacity, low fee Long Term Trend Following program.
The Diversified Alternative Beta program is launched; creation of CFM-Imperial Institute of Quantitative Finance.
Australian registered fund for CFM ISDiversified launched in Nov 2015.
Don’t just take our word for the quality of our global market position and investment process.
CFM is proud to have been recognised by many independent judges and Awards.
Here is a selection of our recent wins
Emerging Systematic Macro
& CTA Fund of 2014
CFM Institutional Systematic Futures Fund Limited, Capital Fund Management S.A. (winner)
Emerging Multi-Strategy Fund
CFM Institutional Systematic Diversified Fund LP, Capital Fund Management S.A. (winner)
Stratus Feeder LP, Capital Fund Management S.A. (winner)