14/01/2025
When Aspect launched in 1997 in the teeth of the TMT equity boom, “The Science of Investment” was a novel concept and a real unique selling proposition, challenging the prevailing Efficient Markets Hypothesis (EMH) view that all information was instantaneously discounted – and the rules-based approach itself rapidly evolved.
“Scientific investing started with fixed rule sets, but our aim was always to develop a more iterative and evolutionary approach that would do better than static rules. The application of scientific discipline to improve diversifying returns has been a constant from the start for us, as the rest of the industry steadily caught up. Nonetheless, the scientific process is driven by people and the art lies in where you focus,” explains Aspect Capital co-founder, Martin Lueck.
The founders of AHL, which spawned Aspect and other firms, shared a passion for physical science. Lueck, the ‘L’ in AHL, and Anthony Todd both studied physics at Oxford, and were introduced by Michael Adam, the ‘A’ in AHL, who was Anthony’s physics practical partner at Magdalen College, as well as a school friend of Lueck. Todd focused on experimental physics, testing hypotheses in the Clarendon Laboratory while Lueck instead specialised in theoretical physics in his final year.
Note: Any opinions expressed are subject to change and should not be interpreted as investment advice or a recommendation. Any person making an investment in an Aspect Product must be able to bear the risks involved and should pay particular attention to the risk factors and conflicts of interests sections of each Aspect Product’s offering documents. No assurance can be given that any Aspect Product’s investment objective will be achieved.
For full details on the awards and selection criteria mentioned in this article, follow the links below:
The Hedge Fund Journal CTA and Discretionary Trader Awards 2023