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Alternative Market Briefing

Blackstar Special Opportunities Fund celebrates one-year anniversary with double-digit returns

Monday, October 07, 2013

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Benedicte Gravrand, Opalesque Geneva, for New Managers:

A South African multi strategy hedge fund that combines high conviction special opportunity positions and other diversified investments, ends its first 12-month period on a high note.

The Blackstar Special Opportunities Fund was launched in October 2012. It returned 3.37% that year and is currently up 11.10% YTD (to end-August). And according to the portfolio managers, the fund gained an estimated 4% in September, giving it a net return of 20% for the first 12 months.

The Special Opportunities Fund is managed by Blackstar Fund Managers (Pty) Ltd., a subsidiary of Blackstar Group, a listed investment holding company. It invests in multi asset classes across multi-currencies, that takes on long and short positions with some leverage across diverse exposures with core long term theme holdings. The fund blends fundamental and technical analysis and uses quantitative screening especially for liquidity. It usually holds up to 25% exposure to foreign currency stocks and bonds, including a 7.5% holding in the Blackstar’s Global Opportunities Fund, a USD multi-strategy fund that invests exclusively outside of South Africa. Fees are 1.25% for management and 20% for performance.

The portfolio managers are Stephen Pratt, who managed his own hedge fund shop called Radcliffe Capital (2003-2012); Andrew Bonamour, ex-Brait S.A., the founder of Blacksta......................

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