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Opalesque Exclusive: Australian hedge fund, mostly up when markets down, looks to increase assets
Australia's Eclectic Capital Management retuned net 0.5% for the month of December and 13.4% for 2007, according to an investor communication obtained by Opalesque.
The manager underlined that "with the market down 2.6% this month we were up 0.5%, we again showed our ability to make money in negative months and protect investors capital. There were four negative months in 2007 cumulatively taking 7.75% off the index and we made money in every month adding 3.76% in the same periods."
The fund, which is distributed onshore and offshore through Sydney-based Hatfield Liptak (a href=mailto:damien@hatfieldliptak.com>damien@hatfieldliptak.com) , maintains that "when market conditions become harder we traditionally do well. In 2001 when the index was up only 2% we
added 16% and in 2002 we added 14% when the index fell 11.5%." Hatfield added that January has been a disaster (so far)for Australian Equities with the market at the time of writing being down 15% whilst Eclectic are down 3.5%."
In 2007 the ASX 500 rallied 13.7%, however Eclectic said they matched that performance with only half of the volatility. The fund, which was launched in February 2001, is "actively looking to increase the funds under management.".
Gottex says assets more than doubled in 2007
From Hedgeworld.com: Alternative asset management firm Gottex Fund Management Hol...................... To view our full article Click here
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