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Opalesque Exclusive: UFG Russia Select Fund to soft close
According to a document received by Opalesque, the UFG Russia Select Fund has returned 50.1% CAGR on a net basis “with a significantly lesser degree of downside volatility than the Russian indices”. For example, in January the RTS index was down -4%, the fund only -1%. The fund is run with a concentrated portfolio of 20 to 25 stocks and uses puts and shorts for downside protection.
Manager partner Managing Partner Florian Fenner says the fund will be closed to new investors by the end of March 2007, and will “for the time being” remain open to existing investors. According to Fenner, the Russian economy is an an inflection point where the growth will shift from commodity exports to investment and consumption-led domestic growth. (www.ufgam.com)
AIMhedge launches Global Diversified Fund
From Finalternatives.com: Cayman Islands-based AIMhedge Management recently launched a systematic diversified futures strategy. The new vehicle, the AIMhedge Global Diversified Fund, was up an estimated 3.67% as of Feb. 20 in its first two-and-one-half months of trading. It is currently managing some $5 million in assets. The trend following fund trades futures contracts of stock indices, interest rate instruments, currencies, cross rates and tangible commodities, according to fund documents. Source
Janus Capital subsidiary Intec...................... To view our full article Click here
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