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Bob Treue From the Opalesque Team:

Opalesque has learned that Barnegat Fund closed out its first decade in business with +406% gains, bringing the funds annualized returns to an impressive +23.7%. Bob Treue, President and CEO of the fund, first caught the eye of the press in 2009, when Treue closed out the year +132% (against the average hedge fund return that year of +19%).

The Barnegat Fund is a fixed income relative value fund that as of the fall of 2010, managed approximately $450m in assets. Although the fund has been as high as $500m in assets, and along with the industry saw some investors need to request during the financial crisis, Barnegat still boasts a high retention rate with 81% of its investors have been in the fund since 2001. It invests in mispricings between securities around the world, covering Canada, US, Euro nations, Scandanavia, UK, Switzerland, Japan, Korea, New Zealand and Australia.

A participant in the 2010 Opalesque New York Roundtable, Treue discussed the types of trades the firm focuses on, including the TIPS trade that inspired its own research paper titled “The Largest Arbitrage Ever” by the National Bureau of Economic Research (NBER).

Part of what ensured Barnegat’s survival was the firm’s approach to risk management and the foresight to prepare for times when liquidity would be constrained, a shadow threat which has caused m......................

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