The Arnott Opportunities Fund (Cayman) is up 16% YTD (to August, Month-to-Date). It has annualised more than 22% since May 2013, compared to 6.9% for the MSCI, according to documents seen by Opalesque. That good fortune comes from a strong focus on asymmetric investment opportunities.

The fund went through the first months of 2020 by focusing on macro drivers for