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Industry sources told Opalesque all funds on the Próxima Alfa platform had positive returns in February, a solid result given the challenging equity environment and increased market volatility late in the month. Within the product range, Anglian (Commodity Multi-strategy, +2.80% net in February, +4.43% YTD), Anak European (Equity market neutral, levered share class, +1.47%, +3.39% YTD), Element (Macro RV, +1.44%, +5.90% YTD), Nile (Equity Long/short, +1.42%, -1.87% YTD) and Linneaus (Global macro, +1.31%, +1.22% YTD) were the best performers.
Anglian continued its strong run with all three books - relative value (65% of assets), equity L/S (25%) and systematic (10%) - contributing positively to performance. Within the RV segment, crude oil and US natural gas positions benefited the most. Anak European rose as both value and momentum factors were positive contributors to performance, particularly in Continental Europe. Element generated gains early in the month based on a stable Fed outlook, and profited further from the late-month rise in volatility across fixed income and equity markets with long volatility positions. Nile entered the year bearish, a bias which hurt the fund in January but was very helpful in late February. For the month, a combination of strong stock selection and defensive options helped the fund rise while the S&P 500 fell over 2%. Linneaus gained on its short dollar positions, being long the Japanese equity market vs the US, a bias toward hig...................... To view our full article Click here
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