Sun, Feb 1, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

New Swiss-domiciled Top Crystal Fund's defensive stance played out well

Monday, February 15, 2010

From the Opalesque team:

Newly-launched Swiss-domiciled Top Crystal Fund reported a negative 0.17% growth in January, three months after its inception in October ’09. Contrary to market expectations, the latest fund report said, January-10 turned out to be a turbulent month in which Eurostoxx 50 was down 6.8% and the S&P down 3.8%.

The fund’s CIO Gianrito Nicodemo said the firm decided to play defensively at the start of 2010, which saved the firm from possible greater losses. He said that the market sentiment remained “excessively optimistic,” although the macro picture is still uncertain: “The result was a chunky correction; the dollar continues to strengthen and hit 1.35 against the euro, and gold continues to weaken and fell to $1050 which is a 61.8% retracement from its recent highs, and sits on its long-­-term support levels.”

Top Crystal was up 0.1% in December ’09, compared with the +2.16% return recorded by the Hennessee Long/Short Equity Index that same month.

Gianrito told investors in his January letter that the rosy macro and corporate figures recorded in the second half of 2009 would continue through the first half of 2010 and even beat “already strong estimates,” before slowing through the rest of the year.

Top Crystal fund also posted an initial negative result as it closed November down 0.1%. Gianri......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Ex-Citi trader launches 'sleep-at-night’ long/short equity fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: After working at Citi's proprietary trading desk, managing a large portfolio between 2008 and 2011, Joel S. Salomon founded SalaurMor Management in New Yor

  2. Investing - U.S. investors favor currency hedged Europe ETFs as euro tumbles, Quants win back investors as Swiss franc fuels volatility gains, David Einhorn's $7bn hedge fund is loading up on this stock, Hedge fund BlueMountain Capital unveils Ocwen Financial short, claims default on notes[more]

    U.S. investors favor currency hedged Europe ETFs as euro tumbles From Reuters.com: U.S. investors stung by the falling euro who want to stay invested in Europe are turning to exchange-traded funds designed to strip out the impact of the region's currency. The biggest among so-called "cur

  3. News Briefs - Millennials use tech tools to jump into investing, Winklevoss twins to launch bitcoin exchange with FDIC insured deposits, Robertson’s legacy from hedge funds to New Zealand, Real estate managers exploring smaller open-end funds[more]

    Millennials use tech tools to jump into investing It is the Facebookification of monetary investing. From social networking platforms that enable young investors to stick to every other's stock-picking mojo, to internet sites for initially-timers hungry for a piece of the Silicon Valley

  4. Update: Prosecutors seek 12 years for hedge fund manager Francisco Illarramendi[more]

    Komfie Manalo, Opalesque Asia: Federal prosecutors have asked the court to sentence convicted hedge fund manager Francisco Illarramendi to 12 years imprisonment for running an elaborate Ponzi scheme that bilked investors hundreds of millions in dollars, including a Venezuelan pension fund, report

  5. Institutions - Ontario pension fund leader calls all asset classes ‘expensive’, Taiwan's BLF plans $2bn in alternative mandates[more]

    Ontario pension fund leader calls all asset classes ‘expensive’ From WSJ.com: The head of one of the world’s largest pension funds said that across asset classes, “everything is expensive.” Ron Mock, who leads Canada’s $141 billion Ontario Teachers’ Pension Plan, said that the plan would