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By the Opalesque Team: Emergent's Alternative Debt Fund has posted dazzling returns recently - up almost 76% for 2008 (Jan-Dec). It has started the year in similar style, with a 5.80% rise in January.
By contrast, the Hennessee Emerging Markets Index returned -30.47% in 2008, and 0.84% in January-09. The Edhec Emerging Markets hedge fund index returned -33.8% in 2008 and -1.06% in January-09.
The MSCI Emerging Markets Index fell 4.9% to 520.87 a couple of days ago, the steepest retreat since Nov. 20, as emerging market stocks fell the most in 3 months according to a Bloomberg.com report.
The fund invests in emerging market debt and foreign exchange based on Emergent's proprietary geopolitical model. The fund was ranked #1 for performance globally in the 2008 Bloomberg all-EM funds listings, outperforming its peers by a very wide margin.
Susan Payne, CEO of Emergent told Opalesque in an e-mail communication: "Emergent achieved its performance in 2008 through lightening its positions early in the year, as well as accurate and flexible hedging of its portfolios."
The performance of Emergent's other EM fund, Ballistic Equities, has been equally positive. It was up just under 9% for 2008 (Jan-Dec), and was ranked #3 in its category in the 2008 Bloomberg all-EM funds listings. Ballistic invests in emerging markets equities.
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