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Alternative Market Briefing

Varus Fund defies 'disappointing’ June with +1.11% returns (+15.8% YTD)

Tuesday, July 19, 2011

From Precy Dumlao, Opalesque Asia:

Claiming to have demonstrated its risk management skills in a highly volatile market, the Cayman-domiciled Varus Capital Management's Varus Fund, which is advised by Heieck Siebrecht Capital Advisors, was up +1.11% in June and concluded the first half of 2010, up +15.7%.

The average hedge fund lost almost two percent over the month of June according to data from Hedge Fund Research. The HFRX Global Hedge Fund Index posted a decline of -1.59% during the month (-2.12% YTD). June was the second consecutive down month for hedge funds and the worst month YTD, as the median fund posted a loss of 0.9%. It was the worst month for equity long/short funds since May 2010. At least 76% of funds were down in June.

Varus boasted to always manage to emerge with good returns even during times of high volatility like in 2008 and many very weak months since the launch of the fund (May 2011 were positive months for the fund at +1.33%).

In its monthly communication to investors, Varus said: "Our two best investments in June have been European shorts in Lafarge (72 bps) and Lonza (71 bps). Lafarge lost 8.4% and Lonza lost 9.9% during June 2011. Lonza was the worst performer in Switzerland and Lafarge was the third worst performer in the French CAC40 Index. We built convicti......................

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