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Komfie Manalo, Opalesque Asia: ALTIN AG, the Swiss
alternative investment company with a listing on the London and Swiss
stock exchanges, invests in more than 40 underlying hedge funds. The
company said in its quarterly report that the portfolio was down for the
quarter in light of the setbacks experienced by financial markets.
"From a global perspective, the third quarter of this year was the worst
in four years for risky assets. During the period, concerns on global
growth gained momentum due to a combination of a Chinese slowdown, a
recession in Brazil and related weaknesses in commodity prices. Risk
aversion escalated in late September when the Federal Reserve delayed
hiking rates in a move that should have supported equity markets, but
instead fuelled more fears over the outlook for international growth."
It added that there was a significant dispersion of returns across
styles, with roughly equal positive contributions from relative value,
macro and protection almost entirely offsetting the nearly identical
negative contributions from equity hedge and event driven. Most
importantly, ALTIN’s portfolio remains positive year-to-date and well
positioned to generate good risk-adjusted returns irrespective of future
market direction.
Significant dispersion in the macro silo
According to ALTIN, the macro silo witnessed significant dispersion
across discretionary and systematic funds, but a...................... To view our full article Click here
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