Sun, May 19, 2019
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Global Return Asset Management ends Q1 up 19%

Wednesday, April 17, 2019

Bailey McCann, Opalesque New York:

New York-based Global Return Asset Management ended March up 1.4% extending its rebound and bringing year-to-date returns to 19.3%, net. The value investor said that it's moving back to cash as market conditions have moved outside of its parameters for investment.

In a letter to investors obtained by Opalesque, CIO Elliot Trexler said that the funds cash exposure was the lowest it had been in four years at the end of 2018. The fund's current cash balance is back up to approximately 18 percent after inflows and the reduction of several positions.

"Some investors, including me, wish we were always fully invested and had no cash balance," Trexler said. "But Q4 2018 and Q1 2019 demonstrate why we'll keep cash when necessary - we believe we can generate higher risk-adjusted returns by waiting to invest until the right opportunities become available."

Trexler's move back into cash and his decision to wait for better opportunities, tracks with sentiments from BlackRock CEO Larry Fink. In an interview today with CNBC, Fink said investors still have a lot of cash left to put to work. Many are viewing the current rally with caution and have maintained defensive positioning despite the rally in equities. Asset flows show a pivot to fixed income as well as significant cash positions. For value investors like Global Return AM, the rally has proven to be a good time to take profits and wait for new oppo......................

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. Lessons from the hedge fund manager who lost big time...[more]

    From Nasdaq: Two and twenty... that's the typical fees that hedge funds charge. With this fee structure, it means that they charge a flat 2% of total assets as a management fee and an additional 20% of any profits earned. There's a good reason that hedge funds can charge this much, and that's b

  2. Cryptocurrency thefts, scams, and fraud top $1.2bn in Q1[more]

    Laxman Pai, Opalesque Asia: Crypto criminals and fraudsters stole more than $1.2 bn through cryptocurrency thefts, scams, and fraud in the first quarter of 2019, a report revealed. Criminals stole more than $356m from exchanges and infrastructure during this period, according to a report by c

  3. Redemptions hit quant king AQR in performance slump[more]

    From Financial News: AQR Capital Management, one of the biggest quantitative fund managers, is undergoing a prolonged performance downturn that has led to investors withdrawing increasing amounts in 2019. The Connecticut-based firm, which manages both hedge funds and mainstream long-only funds,

  4. FWM Holdings buys $2bn fund manager Optima Fund Management[more]

    Laxman Pai, Opalesque Asia: New York-based FWM Holdings, the parent company of Forbes Family Trust (FFT) and LGL Partners, multi-family offices serving ultra-high-net worth families, agreed to buy Optima Fund Management, an early fund-of-funds player with $2bn in assets. The deal is expected

  5. Opalesque Exclusive: Paris-based hedge fund manager opens seeding programme for niche strategies[more]

    B. G., Opalesque Geneva for New Managers: Melanion Capital, an independent investment manager based in Paris, is launching a seeding programme that can house two to thr