Major London shipbroker Simpson, Spence & Young (SSY) has launched its own shipping hedge fund focussed initially on freight derivatives and backed by outside investors and SSY partners.
Bluewave Shipping Fund is led by Mark Richardson, who has transferred from his previous role as head of SSY Futures brokerage services, supported by former GFI freight trader Ed Ratcliffe.
The fledging fund started trading in July with cash from seed investors and results have been positive so far, says Richardson.
“The
