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Alternative Market Briefing

Old Park’s Maestro strategy returns +2.08% (+3.16% YTD)

Friday, March 07, 2014

Komfie Manalo, Opalesque Asia:

London-based Old Park Capital’s Maestro Managed Futures Strategy returned +1.08% in January and +2.08% in February (+3.16% YTD) as political uncertainties in emerging markets continue to create anxiety for investors.

"Weakness in emerging markets as the QE taper-induced capital outflows unveil structural inefficiencies and exacerbate political divides (Turkey, Argentina, Venezuela, Thailand, Ukraine, South Africa, Brazil) and most importantly, there remains a question mark over China’s ability to maintain a growth rate north of 7% per annum," Old Park said in its monthly report to investors.

It said QE tapering is set to continue as scheduled and investors are still scratching their heads to assess the likely impact of the withdrawal of what has been the biggest liquidity tsunami in history.

"If we are set for a year of consistent volatility, then the Maestro strategy provides a particularly relevant option for investors. Not simply for the reason that increased volatility on the Eurostoxx will deliver outsized performance but because the strategy will also offer a unique hedge to equities in developed markets, whilst remaining completely uncorrelated to other CTA style strategies. VSTOXX has increased from a 7 year low in December 2013 of 13.79% to 24% in early February 2014," it added.

The fund boasted that its 2.08% performance in February is a testimon......................

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