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Opalesque Exclusive: French year-old hybrid fund outperforms Eurostoxx, keeps up in down markets Paris-based PRIM’Alternative Investment runs the Prim’KappaStocks fund which was launched in mid-January 2007 and has returned 10.97% so far, compared to the Eurostoxx index which returned 9.03%. The fund mixes index investing and alternative investments.

Mr. Benjamin Louvet, the fund’s portfolio manager, recently told NewsManagers that the fund was created out of the observation that alpha and beta were geared for different kinds of markets. “We had the idea to combine both investment styles in the same fund and to alternate according to the market environment, like a hybrid engine. We called it the ‘Kappa’ management style,” he said.

The fund manages €14m ($20.5m) and relies on three principles: invest in index baskets during upward European stock markets; reduce exposure to indices in downward markets; perform during down markets with high levels of volatility with short term alternative investments such as shorting… Mr. Louvet further said that the fund is currently fully actively managed and that it should benefit from investors’ general indecisiveness. Corporate website: Source

Saracen posts undisclosed losses in natural gas From FinancialNews-US.com: Saracen Energy Partners has posted undisclosed losses on natural gas trading, the latest fund to run into difficulties in the vo......................

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