Mon, Jul 13, 2020
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

The Corona Fighters Report 38: Asset managers who delivered in the downturn

Tuesday, June 02, 2020

amb
B. G., Opalesque Geneva:

Amid the current market turmoil, this is our regular report on hedge funds and alternative asset managers who are bucking the trend.


Sweet spot in property rental

The MSS Millennials Property Rental Fund is up +8.4% YTD after returning +0.75% in March and +0.65% in April. It has returned +15.6% since its October 2018 inception. The fund generates annual distributions and capital appreciation for shareholders by acquiring a diverse portfolio of private rental rector properties domiciled in the UK.

It is managed by MSS Capital Ltd, based in London and established in 2001.

CEO Simon Hookway will present in Opalesque's upcoming webinar: The Corona Fighters, Episode 3, on June 23rd at 10 am EST.

"As government measures to quell the spread of Covid-19 have depressed economic activity globally, commercial property tenants across a broad range of sectors are struggling to cope with the simultaneous shocks to both supply and demand in their businesses," says a manager commentary seen by Opalesque in April. "As a result, many commercial property funds, facing the prospect of uncertain and potentially dwindling future income streams, are finding it hard to value their assets and have moved to suspend redemptions for investors as a result. It is not clear what lasting effect the current economic turmoil will produce for future commercial property demand and especially for retail space (already suffering from on-line competitive pressures) and office buildings (given the current success of large numbers of office workers now adapting to working remotely).

"By contrast, an allocation to residential real estate offers investors an alternative portfolio diversification opportunity. Everyone needs somewhere to live and there is no virtual substitute for that. The MSS Millennials Property Rental Fund provides high-quality rental accommodation to a diverse range of 18-35-year-old tenants (including students, key workers, young urban professionals) in various locations in England and Wales carefully selected by a robust investment process perfected over many years of successful operation."


New manager trading bitcoin

The Westridge Digital Alpha strategy has been live since May 2019 in a managed account, and since the end of March 2020 in a Cayman fund structure.

The managed account has returned +71.5% since inception, after gaining +1.3% in March 2020 and +9.2% in April 2020.

The Cayman structure, OX1 Fund Ltd, returned -3.5% in March and +12.3% in April (+8.4% YTD).

It is a completely systematic absolute return strategy that seeks to derive alpha from trading Bitcoin, based exclusively on proprietary quantitative models. Model signals are executed by taking long and short positions on Bitcoin futures, using the most liquid exchanges for cryptocurrencies.

The manager, Westbridge Markets, is based in London.

"Our partners have over 20 years each of experience in tier one houses running systematic trading strategies across FX," a spokesperson told Opalesque. " We set up Westridge markets 18 months ago and have been trading live for the most recent 15 months of that period with a good level of AuM. The initial focus was FX according to our background.

"Over 12 months ago, we turned our focus to the liquid tradeable end of the cryptocurrency market as we identified some key alpha. For the last 11 months, we have been live trading strategies in liquid BTC futures and generating consistent returns with a Sharpe of over 2. Just over one month ago, we launched a Cayman-based fund to work alongside our managed accounts. Our YTD performance in 2020 is +28%."


***

Last issue of The Corona Fighters Report: Report 37.

Opalesque's Corona Fighters reports are open articles. To see all past reports, type Corona Fighters in our search engine: www.opalesque.com/index.php


***

Disclaimer: This is not investment advice. Opalesque has not verified this information and gives no warranty of accuracy or completeness. Past performance is not indicative of future results. See our Terms & Conditions for more information.

***


WEBINARS:

Meet 10 fund managers and learn how and why their strategies delivered positive returns and/or protected capital during the Corona led market meltdown! Each webinar lasts one hour and features five managers.

"A well-chosen topic of discussion and a great set of speakers to hear and learn from."
"I enjoyed the webinar and found the introduction to the strategies to be diverse and insightful.
"Very resourceful and insightful."


VIDEO REPLAY of CORONA FIGHTERS - Episode 1 webinar: www.opalesque.com/webinar/#pw4

VIDEO REPLAY of CORONA FIGHTERS - Episode 2 webinar: www.opalesque.com/webinar/#pw5


Video replays of Opalesque's past webinars can be found here: www.opalesque.com/webinar/#pastwebinar


Don't miss our new webinars!


- How quants achieve material improvements in ESG investment performance

Time: Thursday, June 18th, 10 am EST
Details and registration: www.opalesque.com/webinar/ESG/


- Corona Fighters Episode 3

Meet more asset managers who delivered during the melt down

Time: Tuesday, June 23rd, 10 am EST
Details and registration: www.opalesque.com/webinar/



Opalesque's upcoming webinars: www.opalesque.com/webinar/


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. PE/VC: Disruption from COVID-19 hits ASEAN private equity hard, VCs see much to like in Democrats' $1.5tn Moving Forward Act, US PE firms play the long game as deal-making comes back into focus[more]

    Disruption from COVID-19 hits ASEAN private equity hard Opalesque Industry Update - After a strong 2019, the ASEAN private equity industry has been shaken by the outbreak of the COVID-19 pandemic, reports Preqin. As of September 2019, ASEAN-focused private equity and venture capital asset

  2. Coronavirus crisis: PE industry mulls more realism and longer holding periods[more]

    Laxman Pai, Opalesque Asia: More realism, longer holding periods and an advantage for investors with a long-term focus - these are the main changes that investment managers in the German private equity market expect as a result of the coronavirus crisis. The PE transaction activity is not exp

  3. Multi-strategy hedge funds post double-digit gains, Tiger Global, Coatue score double-digit fund gains in 2020, Lone Pine soars after losses earlier this year, Can Pershing Square's standout year continue?[more]

    Multi-strategy hedge funds post double-digit gains From FT: Large multi-strategy hedge funds have posted double-digit gains for the first half of the year, reversing losses from March, as markets defied the economic downturn brought on by the coronavirus pandemic. Citadel Advisors

  4. Tech: Pandemic boosts digitalisation across the fund industry, The India-China bust up and what it may mean for tech, Machine learning goes global[more]

    Pandemic boosts digitalisation across the fund industry From International Investment: The pandemic has certainly accelerated change and digitalisation in ways that we never imagined, including the funds industry in Luxembourg. Business Continuity Planning and Disaster Recovery Pl

  5. New Launches: Hedge fund Marshall Wace will bet on ESG stocks with new $1bn fund, Stafford Capital raises initial $532m for ninth timberland fund, Nalanda Cap eyes $800m fund, China's Unity Ventures hits first close on US dollar fund[more]

    Hedge fund Marshall Wace will bet on ESG stocks with new $1bn fund From Forbes: Hedge fund Marshall Wace plans to raise $1 billion for a new fund that will invest in stocks with strong environmental, sustainability and governance (ESG) ratings while betting against stocks with poor rating