Cincinnati-based wealth management firm Talon Eight is to launch its first managed futures fund in the second quarter of 2009, according to Fin Alternatives.

The Talon Eight Fusion fund is a diversified, quantitative fund, which invests in interest rates, equities, energies, grains, meats, metal and soft commodities.

Mr Lay calls the fund “super transparent and super liquid” and says that it is being marketed to investors “looking for somebody who understands and can control downside risk.”

The firm has secured $5 million in commitments for its fund and will start trading as soon as it gets another $5 million.

The Talon fund charges a 2 per cent management fee and a 20 per cent incentive fee, with a $250,000 minimum investment requirement.

Previously, Mr Lay served as vice president and wealth advisor at Neuberger Berman Wealth Management.