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Komfie Manalo, Opalesque Asia: Bob Treue’s hedge fund, The
Barnegat Fund, had a great run in 2014 as it finished the year with
a strong 16.3% returns (-1% in December) and with $695m in assets under
management (AuM). Since its inception in 2001, the fund posted a net
compounded annual rate of return of 18.3%.
Treue explained that the employees of Barnegat are the largest investor
in The Barnegat Fund. He added that 2014 has been good for his hedge
fund as during that year its share price has gone from $1.00 (2001) to
$10.31 (2014).
He went on to say, "On January 1st, I made my first investment in The
Barnegat Fund as a taxable American. To be clear, our opportunities have
lessened from 2008 & 2009. However, bonds seem expensive to me (30 yr
bonds now trade at a lower yield than 30 yr Inflation in Europe and the
UK, i.e. if those market rates are correct, investors in 30 yr bonds
will be poorer in 30 years than they are today) and stocks seem
moderately expensive as well. As a result, I made a new investment in
Barnegat. I don't want to lead people on and say we are in a great spot.
We are not. However, to me, Barnegat seems a better investment than my
other choices."
Treue talked to Opalesque.TV in February 2011 about his fixed-income
relative-value strategy, and how the failure of Long-Term Capital
Management, ...................... To view our full article Click here
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