The LSE Directory / Hedge funds
Campbell & Company is a systematic investment management firm that trades futures, forwards and other liquid instruments across global interest rate, currency, commodity and equity index markets on behalf of institutional and high-net-worth clients. Its flagship discipline is trend following, implemented through quantitative models rather than discretionary calls, and delivered to investors through commodity pools and separately managed accounts run by its registered entities, Campbell & Company Investment Adviser LLC and its CFTC-registered trading advisor affiliate. Within the CTA and managed-futures category, Campbell differentiates itself on longevity and process discipline rather than a single novel signal. The firm's founding rule, not to make trading decisions by committee, still shapes its unified systematic process today. Since the 1990s it has broadened beyond pure trend following into non-trend approaches such as currency carry and relative value, and later added cash equity market-neutral strategies (launched 2001) and a multi-strategy program (branded PRISM) that combines trend and non-trend signals. The firm describes its research approach as combining human domain expertise with statistical models, which it terms "Collective Intelligence." Founded on January 1, 1972 by Keith Campbell with money pooled from twelve initial investors, the firm's original vehicle, the Campbell Fund, is described by the company and independent trade press as the oldest continuously operated private commodity pool in the United States. The company incorporated in Maryland in 1978 and registered with the CFTC in the early 1980s; it is headquartered in Baltimore, Maryland. Leadership passed from Keith Campbell to a successor generation, with G. William (Will) Andrews serving as CEO (joined the firm in 1997, became CEO in 2012) alongside President Michael Harris. Assets under management have been reported at roughly 5 billion dollars as of January 2015 across Campbell and its affiliates, with a more recent third-party registered-investment-adviser filing showing Campbell & Company Investment Adviser LLC managing approximately 4.3 billion dollars. Campbell's Managed Futures program won The Hedge Fund Journal's 2024 CTA and Discretionary Trader Award for best risk-adjusted performance over 4, 5 and 7 years (through December 2023) in the Trend Follower category for funds over 1 billion dollars in assets, a recognition trade press has tied to the firm's more than five decades of continuous trading through multiple market cycles.
