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David Sung Benedicte Gravrand, Opalesque Geneva:
The Betzwood Partners, LP Fund is a market neutral fund that focuses on the telecommunications, media and technology (TMT) sectors; it invests in a limited number of large and mid cap, liquid and highly correlated stocks and seeks to exploit price discrepancies.
Launched in April 2009, it gained 1.8% in May and is up 5% YTD (after returning 8.44% in 09 and 0.74% in '10.) Its performance is usually uncorrelated to the broader equity market.
As there are very few TMT focused hedge funds around, and so no direct indices. But the more general HFRI Relative Value (Total) Index is currently up 3.16% YTD (est., to June) and the HFRX Equity Market Neutral Index up 3.07%.
The fund currently features in Opalesque Solutions' Emerging Managers Database.
The fund is managed by Betzwood Capital Management, a boutique launched when the fund was launched and based in Pennsylvania.
David Sung, the portfolio manager, told Opalesque that the firm produces its very own researching models, which are used to determine opinions of intrinsic value; they are built from the same template and that template focuses exclusively on discounted cash flows.
Discounted cash flow (DCF) is a valuation method used to estimate...................... To view our full article Click here
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