EvoFund, the recently-established quantitative market neutral hedge fund run by industry veterans Philipp Kauer, David Khabie-Zeitoune and Joe Vittoria, has started trading with partner's capital of $2m (€1.7m).

The fund has commitments for a further $7m by the end of this month and will continue to seek investors through its management fee rebate programme, which will give those who put in $25m a significant management fee reduction once the fund reaches $75m in assets.