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Alternative Market Briefing

Gondor Capital sees challenges ahead for financial markets as two hedge funds post strong gains in Q1

Thursday, April 27, 2017

Komfie Manalo, Opalesque Asia:

Vincent Au, portfolio manager of New York-based hedge fund firm Gondor Capital Management believes that the remaining of the year would be challenging for the financial markets even as his two hedge funds maintained their strong performances in the first quarter of 2017.

"I believe that the market would face stiff challenges in the remainder of 2017," Au said in his monthly report to his investors. Gondor Partners LP gained 7.93% while Gondor Funds LTD returned 7.29% in the first quarter of 2017, beating their benchmark, with the HFRI Equity Hedge gaining only 3.62% during the same period.

Au commented, "The performances of the funds were continually anchored by investment selection and the discipline of the strategy itself. I am though cautious about valuations overall as I am hard pressed to find any sectors that are undervalued. I believe caution is warranted and discipline to adhere to my investment strategy and a strict focus on fundamentals more crucial at this point."

Since its inception in May 2013, Gondor's onshore fund has generated a cumulative return 77.20% compared to HFRX Equity Hedge which returned 7.03% and the Barclays HFI which posted 19.20% during the same period. The Gondor Funds LTD has a cumulative return of 47.54% since its launch in July 2013, while the HFRX Equity Hedge and the Barclays HFI posting 8.20% and 19.99% respectively in the same period.

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