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Jonathan Binder From Komfie Manalo, Opalesque Asia:
EMAR Fund Ltd., a multi-strategy hedge fund managed by Florida-based asset manager Consilium Investment Management , returned 1.66% gains in April, the second consecutive positive performance for the fund. EMAR gained 0.54% in March but was -2.68% in January and -0.60% in February.
The fund said in a statement, "Performance was noisy across both debt and equity investments. Credit performed better than we expected causing some losses on our short positions during the investments month. The equity book had mixed performance between longs and shorts with no particular drivers."
Moving forward, EMAR fund chief investment officer Jonathan Binder revealed they are monitoring the negotiations over the U.S. debt ceiling, with particular interest if the Republicans would give in to pressures for substantive future cuts in spending particularly on the major welfare programs (apparently "non-discretionary"). The Obama administration has stood firm on its decision not to compromise with the Republican position on the matter.
"If there was a serious agreement that would change the long term credit quality of the US, we would become a good deal more optimistic about life, but this seems unlikely at this stage," Binder added.
Other areas that EMAR is looking at are housing, energy, and food prices, jobs and the Obama administration's budg...................... To view our full article Click here
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