Quote from Lights:
I'll save you alot of time and trouble and tell you.. Don't Bother.
Hundreds of succesful traders have gone this route and nearly everyone has failed, not because they did not perform, but because starting a fund with such small AUM will never amount to anything. Funds now charge 1% + 15-20% performance. Traders find that managing less than few million you're really making a plumber's salary. And when you're small, you'll stay small. No HNW will invest 7 figures in a fund where his assets are >50% of the fund's assets. You'll never grow by investors.. Your friends and family is the ceiling.
Funds should be created the right way which is to work for a reputable buyside firm, do that for 5 years at a minimum of $20 million under management in your book. Once you hit $50m, which is the line in the sand, people will find you.
For you, join a right prop firm. They will be your investor and increase your assets based on performance. After a year, they'll raise you millions in buying power at a much higher payout too. If you really do have what you claim in terms of returns past 2 years, many firms in Chicago and Ny will back you.
