|
Komfie Manalo, Opalesque Asia: Raging Capital Management’s hedge fund, the Raging Capital Fund – Series
B, gained 8.4% net of all fees and expenses in the first quarter of
2016. By comparison, the S&P 500 Total Return Index gained 1.3% during
the first quarter. The HFR Hedge Fund Index generated a loss of -2.9%
for the same period.
William C. Martin, chairman & chief investment officer of Raging Capital
stated, "The end of the first quarter marked a significant occasion for
Raging Capital – our ten-year anniversary. We are very proud of this
accomplishment and we sincerely thank all of our partners who have
believed in and supported us over the years. Thank you very much. We
are excited and hungry to tackle our next ten years!"
Martin reported that despite what felt like an entire trading year
packed into just three months, U.S. equity and credit markets ended the
quarter approximately flat. At their worst levels in February, the S&P
500 and Russell 2000 were down as much as -12% and -17% year to date and
-15% and -27% from their 52-week highs.
After rallying into the end of the quarter, the S&P 500 and Russell 2000
indexes finished down -3.5% and -14%, respectively, from their 52-week
highs. Oil prices crashed to as low as $26 per barrel in February, only
to close at $39. Fixed-income markets became stressed in February, with
spreads on a basket of non-investment grade bonds in...................... To view our full article Click here
|
|