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From Komfie Manalo, Opalesque Asia:
New York-based fixed income manager The Midway Group with $275m in AuM, has reported that its Midway Market Neutral Fund returned +22.24% in 2011 to end the almost perfect year with performance among the best of class. The fund posted an estimated +1.50% in December. The Barclays Aggregate returned +7.84% for and S&P500 (Total Return) +2.11%.
"In retrospect, it seems as though almost every month in 2011 contained a new exogenous shock, whether it was government intervention in the mortgage market (real and rumored), or the flight to quality into the US Yield Curve due to the crisis in Europe. Market volatility and economic uncertainty proved to be a very rigorous test of risk management disciplines across all asset classes, and mortgage arbitrage was certainly no exception. We are pleased to have performed among the 'best of class’," said The Midway Group Managing Director John K. E. Morris in a communication with investors.
In all of 2011, Midway Market Neutral posted positive returns except in August and September that ended the fund’s 30 months of continued positive results. The fund was up +4.01% in January, +2.57% in February, +2.76% in March, +5.34% in April, + 3.97% in May, +1.97% in June, +2.01% in July (0.92%) in August, (3.83%) in September, +0.02% in October, and +1.18% November.
Midway into 2011, the fund ...................... To view our full article Click here
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