Chaos reigns at new hedge fund


LONDON--Hedge fund manager HED Capital Management will launch a new $200 million fund, dubbed the Beaufort Chaos Fund, by June. London-based HED claims its chaos theory-based strategy obviates the need for derivatives.

The new long-short fund will trade US equities and attempt to identify trading opportunities on a universe of 2,000 stocks using chaos theory -- the study of how apparently random behaviour arises in deterministic non-linear dynamics.

"When we initially looked at applying

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