Crowd-Sourced Quant Network Allocates Most Ever to Single Algo
- Quantopian devotes $50 million to anonymous community member
- Firm’s user base grows to more than 210,000 algorithm authors
Photographer: Brent Lewin/Bloomberg
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Quantopian Inc., the investment platform whose flagship hedge fund struggled early on, has made its largest allocation -- $50 million -- to one of its quants.
The allocation, which includes leverage, went to an anonymous algorithm author, according to Jess Stauth, managing director of portfolio management and research. Crowd-sourced Quantopian, founded in 2011, has deployed $70 million since starting a hedge fund last year and increased the trading amount with leverage to about $134 million.