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By the Opalesque team:
Lakefront Partners, a U.S. L/S equity fund posted a 3.3% growth in March, -0.3% year-to-date and 30% in the last 12 months. By comparison, the S&P500 returned 6% in March, 5.4% YTD and 49.8% in the trailing 12 months. But since its inception in March 2005, the fund outperformed the S&P500 by returning 44.6% - compared to the benchmark’s 7.4%.
The portfolio is constructed using bottom up equity selection and seeks to generate returns from both the long and short stock picks. It is not long biased like many long short strategies, says an entry in LinkedIn.
It is managed by Lakefront Partners, which is part of CapitalWorks, LLC, which itself manages a private equity fund. The company is based in Cleveland, Ohio.
Kelly McKean, founder of Blue CornerInc., a boutique marketing and capital introduction firm based in Spain, said that the fund posted 27% in 2008 and 23% in 2009; the S&P500 went down 20% during these two years.
“They never gated. They have built their business through high net worth relationships by 1’s and 2’s and are about to take in their first $5m allocation from a $1bn wealth manager,” McKean said.
Lakefront continues to receive inflows as it took in $3.3m this month. Assets under management are now approximately $55m with a $500m capacity.
Long positions contributed approximately 6.2% to performance in March while short positions reduced per...................... To view our full article Click here
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