From Komfie Manalo, Opalesque Asia:
Toronto, Canada-based Agilith Capital Inc., has reported that its North American Diversified Fund defied the oft‐cited seasonal Q2 weakness and rose by 1.4% in the third quarter to bring the year-to-date increase in net asset value to 24.7%.
In its monthly report, Agilith said that at the end of Q3, the North American Diversified Fund now has a five year track record of performance, rising 78% in that period as compared to 5.4% and 9.7% for the S&P and DJIA respectively and roughly flat performance for the TSX. In addition to significantly outperforming the major North American indices, the fund stands in the top decile for North American multi‐strategy hedge funds for its five year record.
Comparatively, the S&P and DJIA rose by 6.4% and 5.0% respectively during the same period, while the TSX rose 7.0%. This brought the Canadian index into positive territory for the year (up 5.4%), while the S&P and DJIA are now up 16.4% and 12.2% respectively in 2012.
"The looming uncertainty of the fiscal cliff, when certain draconian cost cutting measures stand to be implemented unless Congress and the Senate act before year end, has been weighing on confidence in the market," Agilith said in its report. It added, "From our perspective, it is difficult to imagine that the U.S. government will create more self‐inflicted damage on the economy than what they have alre......................
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