A Connecticut startup is preparing its third mutual fund, and it expects to launch many more.
, managing partner of Recon Capital
, confirms that the Greenwich-based shop can launch its next offering, an ETF related to the British FTSE index, "at any moment." The target, he says, is to debut the fund in mid to late February.
"We are effective right now," Kelly tells MFWire
Recon dates back to the end of 2011, and it has a young team (around 30 on average). They launched their first fund, a covered call ETF, in December 2013, and its second, an ETF tied to the German DAX index, in October 2014. Looking ahead, Kelly sees a "real opportunity" in what he calls "the death of the two-and-twenty hedge fund formula" for compensation. He foresees Recon filing for five to eight more funds, all aimed at offering absolute return strategies to investors. Some might be other options-based strategies.
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