The brains behind a computer model designed to run an option replication strategy for the Nordea 1 – Heracles Long/Short MI fund, Nader Purschaker, has left MetPARA_BREAK_SENTINEL_9f8e7d6c

The brains behind a computer model designed to run an option replication strategy for the Nordea 1 – Heracles Long/Short MI fund, Nader Purschaker, has left Metzler Asset Management, reported Citywire Global this week. Purschaker was head of alternative investments at the Frankfurt office and the reasons for his departure are unknown. The Heracles fund, which uses a managed futures strategy, was first launched back in March ’08 in partnership with Nordic bank, Nordea. Management of the EUR400million fund is to be handed over to Frank-Peter Martin. Figures show that the fund returned 2.37 per cent over the last twelve months; according to the UCITS Alternative Index CTA, a barely detectable 0.01 per cent return was recorded for 2010.