Investment Management Strategies to help you exceed your benchmark.
We will work with you to find the investment strategy that best matches your needs from our suite of risk-controlled and benchmark-centric investment products.
Constantia Capital is a Registered Investment Advisor. We directly manage a suite of Quantitative Investment strategies, including the Merger-Arbitrage strategy, for the sophisticated individual and institutional investor.
Our investment strategies—quantitative as well as Merger-Arbitrage—are designed with realistic expectations, limited tracking error, and fair fees as our top priorities. We offer products benchmarked to traditional equity indices as well as a liquid fixed-income alternative strategy.
Quantitative strategies have performed well over recent full market cycles due to their disciplined implementation of an intuitive and rigorously researched underlying investment thesis.
Quantitative strategies are particularly strong at identifying stocks to avoid. In a 130/30 account those become shorting candidates.
Proliferation of low-cost brokerage services makes these strategies available and attractive to institutions and high-medium
net worth individuals in the form of Separately Managed Accounts ('SMA').
Harvey Fram, CFA
Founder and Portfolio Manager
Harvey founded Constantia Capital in 2013, and is the Portfolio Manager for its Merger-Arbitrage, Large-Cap 130/30 and Small-Cap 130/30 strategies. Prior to that, he was the Lead Portfolio Manager for the core equity team of Madison Square Investors, a subsidiary of New York Life, for 13 years. He took over management of the Large-Cap Enhanced strategy in 2000 while developing the Mid-, Small-Cap Core and 130/30 offerings. As lead PM, he oversaw assets increasing from $15 million to over $9 billion. Before joining New York Life, Harvey was a quantitative equity research analyst at ITG, a leading technology-based equity brokerage firm. Preceding that position, he was a portfolio manager for international equity derivatives at the Palladin Group, a hedge fund.
He earned his MBA from the Wharton School at the University of Pennsylvania. He also earned degrees in Electrical Engineering from the University of the Witwatersrand and in Computer Science from the University of Cape Town in South Africa.
Phillip Fine, Series 65
Chief Operating Officer, Research Analyst
Phillip brings 10+ years of corporate financial management and consulting expertise to Constantia, as well as broad industry experience in electric power utilities and transportation services.
A fluent Russian speaker, Phillip was vice president of a venture capital fund, finance director, and strategy consultant in Kazakhstan, Ukraine, and Russia. Upon returning to the U.S., Phillip traded emerging markets eurobonds and depositary receipts at a specialist brokerage firm. Prior to earning his MBA from the Wharton School at the University of Pennsylvania, he earned Dean's List honors at Cornell University where he majored in Operations Research and Industrial Engineering.
David Starer, PhD
Director of Research
David has been actively involved in quantitative equity research for over twenty years at prestigious asset management firms including Jacobs Levy Equity Management and Quantitative Management Associates, a division of Prudential Insurance. In addition, he has taught graduate level Financial Engineering at Stevens Institute of Technology in Hoboken, New Jersey.
His research has appeared in the Financial Analysts Journal, the Journal of Portfolio Management, the Journal of Investing, the Oxford Handbook of Quantitative Asset Management, IEEE Transactions on Signal Processing, and others. David has a PhD in electrical engineering from Yale University in New Haven, Connecticut, and a Bachelor of Science degree (with first class honors) in electrical engineering with a physics minor from the University of Cape Town, South Africa.
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Constantia Capital, LLC
17 Hendrickson Rd, Suite 100
Lawrenceville, NJ 08648