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Alternative Market Briefing

Florida hedge fund III Associates celebrates 30 years, is optimistic for 2013

Friday, December 14, 2012

Bailey McCann, Opalesque New York:

Few hedge funds can say they've lasted 30 years, fewer still can say that they have lasted that long, and are seeing consistent investor interest. For Boca Raton-based III Associates, at 30 the future looks bright. III Associates, is a hedge fund that specializes in relative value portfolios in the global fixed income and credit markets with $2.1bn in assets under management. I spoke with Garth Friesen, co-CIO and Principal about where he sees the firm, and financial markets headed going into the new year.

As a firm, III Associates offers its clients including fund of funds and pension funds, with a targeted selection of innovative fixed income, credit, and tail risk products as well as individualized trading strategies. Friesen has been with the firm since 1998, and also currently serves on the Federal Reserve Bank of New York’s Investor Advisory Committee on Financial Markets.

Overall, 2012 was a positive year for III Associates, despite somewhat choppy markets. Given the firm's involvement in interest rates, fixed income, and credit, they were able to avoid many of the bad months seen by equities focused funds or CTAs. "For some reason, interest rates are still out of favor with investors, so the competition in this area is pretty small and that offers some good opportunities," Friesen notes. "We are active in the US and Japan, but not the emerging markets right now."

According to Friesen, one of the biggest drive......................

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