Thu, Aug 11, 2022
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

GIM High Opportunity Forex Fund reports loss of over 50% in one week at end July

Tuesday, September 06, 2011

By the Opalesque Team:

In May, Opalesque reported that Astron Susilovic’s flagship fund at Global Investment Management, the High Opportunity Forex Fund had achieved an impressive 14.44% in the first seven weeks of its existence. Since then, the Opalesque A Square Database shows returns of 6.24% for June, when the firm stopped reporting. However, also in June, Susilovic contacted Opalesque reporting: "GIM High Opportunity Forex Fund has reached a New High Watermark with 24,29 % return YTD 2011. The fund is thereby outperforming its benchmarks Barclays CTA Currency Traders Index and Deutsche BanksDeutsche Bank Currency Returns Index (DBCR) for April, May and June 2011 again."

This figure was supported by a letter dated 22nd June 2011 from the firm's administrators Apex Fund Services (Malta) Ltd.

Subsequently, in a report to auditors in the possession of Opalesque and dated 11th August, Susilovic reported a loss of 52.14% loss in the High Opportunity Forex Fund in the week July 29th – August 5th 2011.

In the report, Susilovic, who is believed to be based in Croatia, states that his firm was invested in currency pairs, with leverage of 40 times the collateral amount for a net open position (NOP) but limited to 10 times collateral for each currency pair with the interest of collateral set ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: ESG exuberance is at all-time highs. But will investors buy?[more]

    As investors increase their focus on mission-based investing, they continue to grapple with ESG and what it means to them. By David Shalom, Director of Capital Introductions at Pershing Innovation. New investment solutions. That's how managers deliver value and attract new inve

  2. Alts managers sitting on over $2.5tn+ of dry powder[more]

    Laxman Pai, Opalesque Asia: In the current rising interest rate environment, investment activity in the private markets has continued to grow, revealed a study. "With alts managers sitting on over $2.5T+ of dry powder and continuing to enjoy premium valuations and interest rates on a prec

  3. Opalesque Exclusive: Hong Kong manager expects additional tailwind in Asian markets[more]

    B. G., Opalesque Geneva: The Asia equity markets have not been at their best so far this year, with the MSCI Asia index down almost 13% YTD, but many managers remain buoyant about the region, as in

  4. Opalesque Exclusive: Emerging markets persist despite headwinds[more]

    Bailey McCann, Opalesque New York: Emerging markets have been under significant pressure since the start of the year, but there are some nascent trends that suggest that things could be getting better. Emerging markets firm Gramercy Fund Management recently released its third quarter outlook and

  5. Opalesque Exclusive: Castle Hall's DiligenceExchange free Transparency Reports cover 100 managers with $10tn of assets[more]

    Matthias Knab, Opalesque for New Managers: Managers and investors can get free access to DiligenceExchange here: Castle Hall, the Du