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Alternative Market Briefing

AM Capital confident of alpha in next 36 months as fund gains 12% through April

Tuesday, May 20, 2014

Komfie Manalo, Opalesque Asia:

Chicago-based hedge fund manager AM Capital Advisors is confident its fund can generate alpha in the next 36 months. AM Advisors President Aaron Miller made the statement as the long/short U.S. equity fund generated 12% gains through April (+3.89% month-to-date) versus the DOW index +0.05%, (+0.74% MTD), NASDAQ -1.09% (-2.49% MTD), and the S&P 500 index at +2.06% (+0.53%. MTD).

He said in an interview, "We’re not bearish, we just think its going to be difficult with for big advances because [Janet] Yellen would put the brakes on by raising rates. If one were to have this opinion, we feel concentrated positions with a realistic catalyst combined with selling derivatives is a good strategy for a market that might not appreciate significantly anytime soon. We feel this provides the best risk reward by essentially locating companies that are trading at a significant discount to their peers and overall market and shorting companies that are trading at overvalued multiplies compared to their peers and the market."

Since inception in July 2009, the hedge fund returned 137.99% versus the DOW index 96.28%, NASDAQ 122.87%, and the S&P 500 index at 104.59% during the same period.

Miller explained that decent stock selection, selling derivatives wisely, and re-allocating positions once the risk reward changes due to price movements, were all factors that affected the fund’s perform......................

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