|
|
David Yarrow From Komfie Manalo, Opalesque Asia:
Two UCITS-compliant long/short equity hedge funds on the Montlake platform gained positive returns in February. The fund platform is run by European independent financial services group ML Capital.
The Pegasus UCITS Fund, a UK long/short equity, gained +4.34% in February (+4.25% YTD) vs. the FTSE All-Share +3.95%, because of strong equity market was coupled with a weak Gilts market. The fund’s strategy is one of fundamental investment, built around a detailed understanding of both the underlying company and the stocks relationship with the market.
Pegasus’ Portfolio Manager David Yarrow said in the fund’s monthly report to investors, "Even within the equity market we saw the most defensive sectors, Pharma, Food Retail, Mobile telephony, all lagging the market whilst the better quality mid cap stocks powered on."
"Whilst the market continued to move ahead globally the UK market was amongst the very best. The main reason for this lies with an improving confidence in Eurozone stability. Many market commentators expressed concern about the large levels of bond issuance needed throughout Europe in the first quarter especially. The market has been good and the fund has not had any bad bond auction results. To put this into context the Italian 5 year bond is yielding 3.63%, on the 25th of November that was 7.7%. That is an enormous move and given t...................... To view our full article Click here
|
|
RSS
