Sun, Oct 2, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
New Managers April 2014

FUND PROFILES: Breton Hill, a macro, Camox Fund, Aimed Global Alpha Fund, Varadero Capital, Phalanx Japan AustralAsia Multi-Strategy Fund

Trend following macro fund stays afloat thanks to discretionary layer

Ray Carroll Here is a macro, trend following hedge fund that has not been doing too badly in its nearly three-year existence. The managers attribute its sound performance to their taking over risk and trading once the program has identified trends.

Breton Hill Master Fund LP returned 0.93% in February, a month when the equity markets were volatile, U.S. numbers were weak, emerging market concerns receded slightly (though Ukraine gave rise to some concern) and commodities experienced large price fluctuations due to weather surprises. That month, the macro fund, which invests long and short in equities, commodities futures, financial futures and currencies, increased its long posture across equities and commodities.

According to the fund's monthly report, the managers look for a rebound in economic data, a continuation of the bull trend in stocks; they remain nimble and are wary of escalating knock-on effect from emerging markets.

The $219m fund, incepted in August 2011 and run by Breton Hill Capital out of their Toronto offices, is down -4% YTD, after returning +10.3% in 2013, +3.45% in 2012 and -3.44% in 2011.

Trend following is an investment strategy based on the technical analysis of market prices, rather than on the fundamental strengths of the companies.

Trend following funds, or CTAs, did much better than the average hedge funds and were even in positive territories in 2008. Because of that, between 2009 and 2012, investors, including pension funds, poured some $130 billion into such funds, according to Quartz, and a record of 187 of these funds launched in 2012. Unfortunately, by that time the profits had already started to evaporate. Most programs could not take advantage of a general ......................

To view our full article please login

This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
New Managers
New Managers
New Managers

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: BlackRock taps Artivest for alternative investment platform partnership[more]

    Bailey McCann, Opalesque New York: BlackRock will be working with New York-based Artivest to provide a platform for broader distribution of BlackRock alternatives funds. Artivest is a technology-driven alternative investment platform that also offers brokerage services. BlackRock has approximatel

  2. Eden Rock buys Gottex stake in ERG Asset Management[more]

    Matthias Knab, Opalesque: Eden Rock Group announced the purchase of Gottex’s stake in ERG Asset Management and so the firm is now wholly owned by Eden Rock. The two firms established the joint venture in 2011 to focus on providing cost effective solutions to funds holding illiquid investments, as

  3. "Hedge fund industry needs to shrink"[more]

    Komfie Manalo, Opalesque Asia: Writing for CNBC, Josh Brown, creator of The Reformed Broker blog and financial advisor for Ritholtz We

  4. Strategy - Voyager Management wants to invest in smaller hedge funds[more]

    From Valuewalk.com: Voyager Management, a $475 million fund of funds, is looking to downsize the hedge fund’s in which they invest, looking for smaller funds with assets under management that enable the fund to be nimble. The fund is looking for noncorrelation and will consider long / short equity

  5. Asia - Quant hedge funds are China's hot new export, Europe banks return to Korean brokerage market; target debt, alternative products[more]

    Quant hedge funds are China's hot new export From Bloomberg.com: Add China’s quant shops to the list of hedge funds branching out across Asian markets. Quantitative money managers from the world’s second-largest economy are opening offshore funds at a never-before-seen pace, according to