$34 billion quant hedge fund Qube is going live with a human stock-picking group next week

"The $34 billion quant firm will have its first fundamental analyst team go live next week, two people close to the firm tell Business Insider. The team is under former Balyasny London office head Stephen Irvine and will have sector-focused analysts managing sleeves of capital. Irvine, who founded and briefly ran Lijaro Asset Management, will manage the overall portfolio atop the analysts, these people said. Each analyst will run between $200 million and $500 million, depending on their experience, they added."

"This group will be Qube's first foray into internal human stockpicking, joining quant shops such as D.E. Shaw and Engineers Gate, which have expanded into the fundamental space in recent years. Like its quant rival Squarepoint, Qube already has exposure to fundamental stockpickers via external allocations, seeding and investing in dozens of outside funds. The firm has hired at least seven analysts this year to join the opening team, as reported by trade publication eFinancialCareers."

Qube, a London-based quantitative firm managing $34 billion, will deploy an internal fundamental analyst team starting October 1. The team will be led by Stephen Irvine, formerly head of Balyasny's London office, with him overseeing the overall portfolio and sector-focused analysts each managing sleeves of capital. Each analyst's sleeve will range from $200 million to $500 million depending on experience. Qube has hired at least seven analysts this year across consumer, financials, chemicals, technology-media-telecom, and pharmaceuticals-biotech sectors. The move expands Qube's exposure to human stockpicking alongside existing external allocations and industry peers moving into fundamentals.

Read at Business Insider