FORTUNE -- Topturn Capital has become the first hedge fund manager to create and publish a public advertisement for its services, more than two months after the SEC lifted its decades-old ban on general solicitation.
The ad, first noticed by Buzzfeed, focuses on the similarities between a "top turn" surfing maneuver and the Monterey, Calif.-based firm's proprietary investment strategy, which includes equities, commodities, fixed income and currency. To drive home the point, Topturn hired pro surfer Joe Curren to appear in a speaking role.
"So much material for hedge funds looks exactly the same, and [registered investment advisors] are inundated with it," says Dan Darchuck, Topturn's co-founder and CEO. "So we had interest in doing something different, and some marketing people guided us to do a video."
Topturn has posted the video on its website, in the hopes of generating new client interest. It also has sent a copy out to both existing and prospective investors.
One thing the video doesn't discuss is Topturn's investment performance, which Darchuck says was a conscious decision. "We wanted to convey how we think about investing, and if people are interested we will then provide all of the data they need."
Through last October, Topturn reported just over $100 million in assets under management on behalf of 201 clients. Around $72 million of that was discretionary.
It will be interesting to see if Topturn's ad gambit pays off in terms of new investors, since that would be what could prompt other hedge fund managers to follow suit. In general, the new general solicitation rules have mostly been leveraged by startups seeing seed and early-stage capital. One venture capital firm also began generally soliciting last month, but so far has not been followed.
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Manager of world's largest hedge fund says Fed has made the market a risky place to invest.
FORTUNE -- Investors need to get ready for disappointment.
Ray Dalio, who manages the world's largest hedge fund, believes stocks will only return 4% over the next decade. But that might not be bad compared to other assets. Dalio says bond investors will do worse.
The Bridgewater Associates head made the downbeat investment projections on Tuesday MOREStephen Gandel, senior editor - Nov 12, 2013 11:50 AM ET
SEC files civil case against hedge fund titan.
FORTUNE -- Apparently teflon sometimes can melt in the heat.
The Securities and Exchange Commission today filed civil charges against hedge fund titan Steve Cohen, alleging that he failed to "reasonably supervise" two employees at his SAC Capital. The pair -- Mathew Martoma and Michael Steinberg -- both had been previously charged with insider trading.
"Hedge fund managers are responsible for exercising appropriate supervision over their employees MOREDan Primack - Jul 19, 2013 2:47 PM ET
Hedge funds may be a media piñata right now, but they aren't going away. Nor should they.
By Josh Brown
FORTUNE -- Over the last month, the low hum of anti-hedge fund murmuring has exploded into a full-on festival of malice -- thousands of investors, having spotted the 2-and-20 emperors sans clothing for the umpteenth time, are now reveling in their newfound courage to say it out loud:
"I don't get it."
The journalists -- MOREJul 14, 2013 9:23 AM ET
Hedge and private equity funds will be allowed to advertise, but it isn't a Wall Street plot to foist garbage on unsuspecting investors.
FORTUNE -- We've now had nearly 24 hours to digest the SEC's vote to end a ban on general solicitation on Rule 506 offerings, which generally covers private issuers like buyout funds, VC funds, hedge funds and unlisted companies. And we've also had time to digest the boatload of MOREDan Primack - Jul 11, 2013 10:47 AM ET
Hedge fund manager Dan Loeb says Japanese stocks are cheap.
FORTUNE -- Dan Loeb, the $11 billion hedge fund titan, says he is betting on a Japanese rebound.
Speaking on Thursday at the annual SALT hedge fund conference, Loeb named Japan as the investment he is most excited about right now.
"We are extremely focused on Japan," says Loeb, who runs the Third Point hedge fund.
In a recent investing letter, Loeb mentioned that MOREStephen Gandel, senior editor - May 9, 2013 5:01 PM ET
Hedge fund manager Lasry doesn't get ambassadorship.
FORTUNE -- Hedge fund manager Marc Lasry will not be the next U.S. Ambassador to France, following a bizarre process in which the hedge fund manager was told that he was indeed President Obama's pick.
Reuters was first to report the new development, and Fortune has obtained a short letter sent today by Lasry to investors in his firm, Avenue Capital.
From the letter:
"I am writing MOREDan Primack - Apr 23, 2013 4:13 PM ET
Hedge fund affiliates of SAC Capital will pay more than $600 million.
FORTUNE -- Regulators announced Friday that affiliates of the hedge fund SAC Capital had settled insider trading charges for more than $600 million. While the amount is stunning -- with one settlement touted by the Securities and Exchange Commission as "the largest ever in an insider trading case" -- some believe that this could actually be a positive development for MOREKatie Benner - Mar 15, 2013 5:59 PM ET
Private equity giant expands hedge fund group.
FORTUNE -- The Carlyle Group (CG) this morning announced that it has acquired a 55% economic stake in Vermillion Asset Management, a $2.2 billion commodities hedge fund manager.
Mitch Petrick, Carlyle's head of global market strategies, says that the deal is more partnership than acquisition, with Vermillion expected to maintain both its brand and its senior management. In terms of assets under management, however, all $2.2 MOREDan Primack - Oct 3, 2012 7:22 AM ET
John Arnold was once considered one of the world's top commodities traders. Now the 38-year old is leaving the business.
By Leah McGrath Goodman
FORTUNE -- Traders, when not speaking on the record, will sometimes allude to the search for a financial Truth -- a belief that somewhere buried deep within the market there is a sweet spot that, if properly tapped, can unleash a fortune.
John Arnold, the 38-year-old billionaire gas MOREMay 4, 2012 5:00 AM ET
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