From managing a single fund, Winton has progressed to offering a focused product range, centred on the same rigorous, empirical approach.
By 1997, David had already been at the forefront of systematic investing for a decade. Following a first-class degree in theoretical physics from Cambridge University, he soon saw that statistical inference and modern computing techniques might potentially be utilised for trading in financial markets.
David put these ideas into practice in 1987, as one of the three eponymous co-founders of pioneering systematic manager Adam, Harding and Lueck (AHL), which grew to be a leading adviser of managed futures funds. ED&F Man (now Man Group) subsequently acquired a majority stake in AHL before fully acquiring it in 1994.
David’s philosophy was captured in a speech to the Royal Society in 1993 and a subsequent paper titled Making Money from Mathematical Models. This document has served as a manifesto, defining Winton’s guiding principles ever since.