Benedicte Gravrand, Opalesque Geneva:
The Friedberg Global Macro hedge fund is now closed to new investors, reports David Rothberg, a Canadian fund and risk manager, but the Niagara Discovery fund, a multi-strategy fund, remains open. Rothberg also comments on the weird current equity trend, the weak recovery and the potential bubbles in sight.
Friedberg Global-Macro Hedge Fund is closed to new investors
The Friedberg Global-Macro Hedge Fund Ltd., which now has US$935.7m in AuM, was up 3.04% in March and up 6.77% YTD, annualising 16.7% since its December 2001 inception. The Cayman domiciled fund is a multi-strategy global macro fund managed by global macro investing veteran Albert Friedberg, co-founder of Toronto, Canada-based Friedberg Mercantile Group.
The Friedberg family is the Fund's lead investor, and Niagara Capital – also based in Toronto - is the international sales agent for the fund.
David Rothberg, Member of the risk management committee of the Friedberg Global Macro Hedge Fund since 1990, told Opalesque that in March, the fund had been "long U.S. TIPS and nominal bonds, bearishly positioned in oil, long housing, short Apple, long Google, long the Bank Of Ireland."
Although the Friedberg Global Macro Fund is closed, Rothberg adds, the Niagara Discovery fund is still open.
Niagara’s multi-strategy fund up 3.5% in March
David Rothberg ......................
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