Melanion Capital has received authorization from the French regulator Autorité des Marchés Financiers to become the first alternative manager to specialize in investment in dividend futures.
The company, which is led by founder and CIO Jad Comair, has been providing expert dividend future products since 2008.
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The dividend future was listed on Eurex for the first time in 2008, and since then it has witnessed significant growth in volume, in the number of traded instruments, the number of exchanges issuing these contracts, and the number of market participants namely institutions, banks, family offices and others.
Ever since its inception in 2008, the product generated an average gross return of more than 20% per annum, against an average 2% decline in the EuroStoxx50 over the period.
The Melanion team comprises of portfolio manager Antoine Iskandar; risk manager Dr Bing Zhou; and business development manager Erwan Tigreat.
The firm will employ quant and fundamental elements including bottom-up analysis, stock-picking, yield strategies and arbitrage to achieve its performance objectives.
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By GlobalDataJad Comair, founder and chief investment officer of Melanion, said: "This strong demonstration of alpha generation is a key validation of the Melanion Capital investment approach.
"Because they’re simple, easy to understand and answers investors’ need to hedge their dividend exposure, dividend futures have become very popular since 2008 in an environment where other assets were losing momentum after the financial crisis. Melanion Capital’s unique business model aims at capturing the opportunities in these derivatives while seeing them become the asset class of the next decade," Comair added.
