Hedge Fund Regatta hits Solent

7:22am Wednesday 9th July 2008

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HEDGE Fund software house, Digiterre, took its annual Hedge Fund Regatta back to the Royal Southampton Yacht Club for two days of racing in the Solent and was not disappointed.

The Club laid on an excellent barbecue dinner as the crews of the eleven boats arrived, to be welcomed by Commodore, Colin Lewis, and briefed by CRO's Roger Townsend and Philip Gage.

Next morning brought a steady 16 knots of breeze for the one hour practice race and course setters Philip Gage and Kathy Smalley set the mainly scratch and novice crews a testing course with short legs and a little bit of "everything" to get them all working together, hoisting and dropping sails.

After a recovery break for lunch, the wind gradually increased to 25 knots for two windward / leeward races in the afternoon. Some yachts recorded 30 knots at masthead and there was plenty of broaching as some were over canvassed.

The second morning was a real contrast, with barely enough SE wind to get the boats away. The Commodore's Cup fleet had already had a one hour postponement before they could get started on their round the cans race in the central Solent, very close to the regatta race area, which was a good sight for rookie competitors.

The Race Officer team started the first race in just under 6 knots of breeze, although this increased consistently throughout the day to 15 knots. The course setters organised three windward/leeward races of increasing length, culminating for the last race in a long spinnaker run from William buoy up Southampton Water to NW Netley, where tired finishing crews were met by the Race Management company, Activ Power & Sail, with cans of cold beer.

At the Prize Giving at Ocean Village, Digiterre boss Ian Murrin was full of praise for the two day's racing and in particular, the courses and standard of organisation, both out on the water and in the clubhouse. This was heartily endorsed by the winning skipper of Ecofin, who said that they had enjoyed two magnificent days racing.

In turn, chief race officer Roger Townsend praised the crews, who had been really competitive, without being aggressive. There were no recalls and no postponements over the two days and apart from a few alarms on the Committee Boat, the plans had gone extremely smoothly.

London based Digiterre provides software products, solutions and bespoke development services to the hedge fund and alternative investment communities.

Clients include many of the world's largest hedge funds, fund of funds, fund administrators and prime brokers.

Launched in 2006 on the back of an annual client sailing event run by Digiterre, the Regatta, organised by the RSYC, is rapidly becoming a "must attend" event for anyone in the industry with a love of the water and a taste for adventure.

Great competition on professionally run racing yachts, coupled with the excellent après-sail and gourmet food combined to make a truly memorable event.