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From Florian Guldner, Opalesque Europe:

Amsterdam-based FoHFs manager Theta Capital Management today reported positive performance in 2009 for both the Multistar Medium Volatility Fund and the Deep Value Fund. The firm also announced the launch of Theta Legends on 1st February, which is a vehicle designed to invest in the strategies of legendary fund managers.

Theta Legends launched in February Theta Legends, launched in February this year with $60m seeding capital, will have a portfolio of 5-10 multi-strategy investment managers. The idea of the fund is to give investors access to top-quality managers with a proven track-record of 15 years, full transparency and liquidity. The fund was launched as a result of investor feedback Theta Capital has received last year.

Multistar Medium Volatility Fund +5.09% in 2009 (-0.25% in January); Deep Value Fund +16.06% (+0.80%) Theta's Multistar fund gained 5.09% in 2009, thereby underperforming the HFR Fund of Funds Index (+12.1% in 2009). The firm's management explains this with their conservative investment style, which worked well in the first 2 months of the year, but led to losses from March to June that proved hard to recover from without changing the strategy's risk parameters. In the 4th quarter, the global macro fund......................

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