About CFM
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.
Our culture
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 PhDs in hard sciences 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.
Key Australian contacts
Steve Shepherd
Head of Investor Relations, Asia Pacific
Mark Yetman
Director – Investor Relations, Asia-Pacific
Our history
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.
1991
CFM founded by Jean-Pierre Aguilar. The Managed Futures program established.
1994
Creation of Science & Finance, founded by Jean-Philippe Bouchaud and Jean-Pierre Aguilar, as the research arm of CFM.
1995
Marc Potters joins.
2000
Merger of CFM and Science & Finance forming the current legal structure of CFM. Launch of intraday trading research. Jean-Philippe and Marc co-author Theory of Financial Risk and Derivative Pricing.
2001
Launch of the Equity Statistical Arbitrage strategy. Jacques Saulière joins.
2002
Start of electronic trading
2003
Launch of the Quantitative Multi-Strategy program, marking the diversification of the firm.
2005
Launch of the Equity Volatility Arbitrage strategy.
2006
Philippe Jordan joins.
2009
Launch of the Directional Volatility strategy. Creation of the CFM Foundation for Research.
2011
The management team of CFM, and Dyal Capital buy out Jean-Pierre estate, following his death.
2013
Launch of the Long Term Trend Following futures program.
2014
The Diversified Alternative Beta program is launched. Creation of CFM-Imperial Institute of Quantitative Finance.
2015
CFM LLP becomes an AIFM and the Investment Manager for the CFM IS programs. Australian registered fund for CFM ISDiversified launched in Nov 2015.
Awards
CFM is proud to have been recognised by many independent judges and Awards.
Fund Manager of the Year Awards 2018
Fund Manager of the Year,
Alternative Strategies,
Winner, 2018
Buy-Side Quant of the Year 2018
Risk Awards 2018 Winner
Emerging Multi-Strategy Fund of 2014
CFM Institutional Systematic Diversified Fund LP, Capital Fund Management S.A. (winner)
Quant of the Year 2017
Risk Awards 2017 Winner
Multi-Strategy Fund of 2014
Stratus Feeder LP, Capital Fund Management S.A. (winner)
Emerging Systematic Macro & CTA Fund of 2014
CFM Institutional Systematic Futures Fund Limited, Capital Fund Management S.A. (winner)