The world’s largest asset manager BlackRock is revamping its flagship quant hedge fund as it seeks to take on industry giants such as DE Shaw, Citadel and Millennium.
The investment group is adding stockpickers to Systematic Total Alpha (STA), its top mathematical and data-driven hedge fund, following a strategy pursued by multi-manager hedge funds that house human and computer-driven strategies under one roof.
The quant fund is also expanding fundraising efforts to challenge larger rivals after securing the three-year trading record required by many allocators to invest.
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