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Biography for Douglas Sperry Makepeace
Douglas Sperry Makepeace
Biography for Douglas ...
Biography for Douglas Makepeace
Personal & Education: Douglas Sperry Makepeace was born in
Professional: Mr. Makepeace's first real job was working as a salesman for IBM (UK) Ltd., the
. In 1977, Mr. Makepeace joined Merrill, Lynch, Pierce, Fenner and Smith, Inc. as an account executive in
New York City
.He moved to Bear, Stearns & Co.
worked for smaller brokerage houses from 1980 to 1983.
From 1983 to 1986, he
worked for a private money management and investment banking firm in
New York City
spent the next two years doing research on money managers and writing a 60-page book, A new way to choose money managers, for greater safety and higher returns.
From 1988 to 2005, he
worked primarily to search out, evaluate and recommend money managers with strong track records.
He is the President and owner of Sperry Fund Management LLC (SFM), a
limited liability company, whose business was originally established as Mr. Makepeace's
sole proprietorship in 1988.
Also, Mr. Makepeace's
original goal was to produce 15% to 20% in net returns, so that money would be attracted by performance alone.
funds of funds out-performed their competitors generally over the years, but fell short of 15%.
decided that this goal will not be achievable in the future.
Thus, all four funds of funds ceased operations during 2006.
In 1991, Mr. Makepeace found a money manager with an outstanding record, but with no offshore fund.
Mr. Makepeace organized a Bahamian fund, and brought the manager to other funds of funds and professional investors.
has continued to introduce outstanding managers to select investors.
These managers have rewarded these investors with net gains well over $200 million.
Global macro investing
Mr. Makepeace has also managed a global macro fund since 1991, but never as a full-time effort.
"Mutual funds are required to have ...
"Mutual funds are required to have a separate custodian," noted Douglas Makepeace, president of New York-based Sperry Fund Management, adding that many hedge funds self-clear and do not have an independent custodian, as was the case with Madoff.
"You have to do something to ensure that the hedge fund manager will not take the money to Brazil," said Makepeace
Other investors named as having lost ...
Other investors named as having lost money to Eustace - in this Bloomberg story - include TAG Associates, a $4 billion New York-based family office, whose losses were not disclosed by principal Stanley Pantowich, and Douglas Makepeace's Sperry Fund Management, which had $22 million of its Â±$500 million portfolio with Eustace.
SEC Probes Man Group Over Hedge Fund Collapse , Powered by BusyTrade.com
Sperry, a New York-based firm that manages about $500 million, invested $22 million with Eustace, said Douglas Sperry Makepeace, the firm's president.