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Alternative Market Briefing

Diamond Peak’s CTA program continues 7-month winning streak, up 0.61% in June (+13.48% YTD)

Thursday, July 14, 2011

From Komfie Manalo, Opalesque Asia:

The "zig zag market character" of 2011 so far has helped Diamond Peak Capital’s CTA program, called the Diamond Peak Northstar Aggressive (2x) program, to maintain its seven-month winning streak since December 2010 and finish June up 0.61% and the first half of the year up 13.48%. Steven Sapourn, Portfolio Manager for the Northstar program told Opalesque that the program thrived during the past seven months despite a tough environment for CTAs.

Most CTA indices are down so far this year. For example, the Eurekahedge CTA / Managed Futures Hedge Fund Index was down 2.27% (est.) in June (and down 3% YTD).

Featured in Opalesque Solutions’ Emerging Managers Database, Northstar generated alpha from both its long and short core strategies, with its more uncorrelated systems helping to mitigate volatility. As Sapourn pointed out; "Markets that zig and zag rather than move in a straight line are the best environment for what we do."

This year started off with strong economic data with the S&P registering multi-year highs until mid-February. But the political turmoil in the Middle East and the disasters in Japan brought by the powerful earthquake and the eventual nuclear crisis halted the rally. Recently, the possible default in Greece sovereign debt issue has eroded market confidence a......................

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