Could a new systematic macro fund that charges less than half of traditional hedge fund fees trigger a wholesale price war in the world of computer-driven hedge fund strategies?

Cantab Capital Partners' new CCP Core Macro fund set the cat among the pigeons in January with a 0.5% management fee and a 10% performance fee, against the hedge fund standard 2% and 20%. Cantab founder Ewan Kirk said: "Once firms have invested in technology and research, they may be able to offer parts of their portfolio at significantly lower fees." Kirk thinks that firms need the scale - typically at least $2bn - to cover these overheads before rolling out lower-cost products.