Finance
Hedge Fund Startup That Replaced Analysts With AI Beats the Market
- Armina Rosenberg, Thomas Rice team up for long-short portfolio
- Minotaur Capital’s AI model helps duo to keep costs down
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A hedge fund startup that uses artificial intelligence to do work typically handled by analysts has outperformed the global stock market in its first six months while slashing research costs.
The Sydney-based firm, Minotaur Capital, was founded by Armina Rosenberg and Thomas Rice. Rosenberg previously managed a global equities portfolio for tech billionaire Mike Cannon-Brookes and ran Australian small-company research for JPMorgan Chase & Co. when she was 25. Rice is a former portfolio manager at Perpetual Ltd.