Qube launches in-house discretionary equity team

Qube is establishing its first internally managed discretionary equity portfolio management team in London. The firm is recruiting portfolio managers to run long and short equity strategies across multiple industry sectors in a multi-manager structure that will report to investor Naveen Baid.

Each portfolio manager will be responsible for constructing and managing an independent book, making day-to-day trading and position decisions for their own strategies. The platform will sit within Qube’s broader investment operations in London.

The firm began recruiting for the desk this year but has not disclosed start dates or headcount. No public timetable for a launch or target assets under management for the discretionary platform has been released. Qube declined to comment on the reported plans.

Qube previously added a team of sector-focused equity analysts led by former Balyasny executive Stephen Irvine. That analyst unit generated ideas that were pooled into a centralised portfolio rather than assigned to individual managers. The new structure will let individual managers implement distinct strategies and risk profiles.

The firm has also allocated to external fundamental equity managers in the past. The in-house platform will add direct portfolio construction and fundamental stock selection alongside Qube’s quantitative capabilities.

Qube is London-headquartered and manages roughly $50 billion in assets. The firm has expanded its investment capabilities over the last two years as it has grown.

A number of systematic investment firms have added fundamental equity, macro and other discretionary teams in recent years to complement algorithm-driven trading. The new Qube team follows that broader pattern among large quantitative managers.