Sun, May 16, 2021
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Brandywine’s systematic program completes third straight profitable year thanks to diversification philosophy

Friday, January 10, 2014

amb
Mike Dever
Benedicte Gravrand, Opalesque Geneva for New Managers:

Brandywine Asset Management, a boutique fund manager located near Philadelphia, PA, has just completed its third profitable year.

Its Symphony Fund finished 2013 up 3.72% and its more aggressively-traded Symphony Preferred Fund was up 13.45%. Both funds made a small loss in December (-0.16% and -0.66% respectively).

Comparatively, the S&P 500 TR is up 32.2% for the year; the HFRI RV Multi-Strategy Index is up 8.16% (est.) and the Barclay CTA Index is down 1.44% (est.) for 2013.

The Symphony Program is a globally-diversified investment program that incorporates multiple fundamentally-based trading strategies in a systematic portfolio. The Symphony Preferred Fund trades more aggressively at three to five times the standard risk of the other fund. Both were incepted in July 2011.

Over the past two and a half years (July 2011 through December 2013), the S&P 500 Total Return Index (with reinvested dividends) returned +47.91% and the Brandywine Symphony Preferred Fund +56.54% (the Symphony program produced a 12%+ cumulative return). According to Brandywine’s monthly report, the Preferred Fund’s outperformance was achieved without taking on the high level of event risk that is accepted by people who buy stocks.

Event risk is present when an investment is powered by one or a few Return Drivers.

Mike Dever, who was a trader for 30 years befo......................

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. U.S.: Hedge funds facing Biden tax threat grab toehold in Puerto Rico[more]

    From Bloomberg: With Democrats pushing for higher taxes on the richest Americans to fund President Joe Biden's infrastructure and climate initiatives, hedge fund managers are taking refuge in Puerto Rico. ExodusPoint Capital Management and Millennium Management have established subsidiaries on t

  2. SPACs: SoftBank-backed Better to go public in $7.7bn SPAC deal, Turmoil in the SPAC market, SPACs that raise a lot of money will struggle to find startups, Biotech firm Ginkgo to merge with Harry Sloan-led SPAC in $17.5 billion deal[more]

    SoftBank-backed Better to go public in $7.7bn SPAC deal From PE Insights: SoftBank Group Corp-backed Better HoldCo said on Tuesday it will go public through a merger with a blank-check firm sponsored by investment firm Novator Capital, valuing the mortgage startup at $7.7bn. As p

  3. Hedge fund Tiger Global beats out Silicon Valley VCs, invests in 110 startups so far[more]

    From Business Insider: Tiger Global, a $65 billion hedge fund, is squeezing out venture capital firms to invest in startups. The company has taken part in 110 startup financings so far in 2021, according to PitchBook. Venture capitalists say its speed and sky-high valuations lead to its success

  4. SPACs: Why the 'SPAC Mafia' hedge funds aren't worried about SEC regulation, Bill Ackman's cagey SPAC update sends shares soaring as investors dream up a mega-deal, Arqit raising $400m with a SPAC to launch quantum encryption satellites in 2023[more]

    Why the 'SPAC Mafia' hedge funds aren't worried about SEC regulation From Business Insider: After a yearlong bout of SPAC mania, the red-hot market for blank-check companies is cooling down as regulators direct their attention to it. March was a record-breaking month for special-purpose

  5. Private strategies pay off for Tiger Global, other hedge fund titans[more]

    From Institutional Investor: Hedge funds' strategies to invest in private markets have been driving returns at a number of firms this year. Third Point, Greenlight, Tiger Global, and Maverick received big boosts in the first quarter from their private investing strategies. That shouldn't be a