Augustus Global Rates Fund more than doubles assets in 12 months
Boosted by an annual return of 13.56 per cent over the 12 months to October 31, Augustus Asset Managers' JB Global Rates Hedge Fund has seen its assets under management more than double in the past 12 months.
The Global Rates Fund had assets under management of USD134.8m at the end of October 2007, since when the figure has soared to USD308.8m. Total assets in the Global Rates strategy have grown from USD297.5m to USD511.5m over the same period.
Managed by Adrian Owens, the Global Rates Fund pursues a macro-style strategy focused on fixed income and currency markets and aims to build a diversified, directional portfolio in developed markets with opportunistic allocations to emerging markets.
'Current market dislocations amid rapidly slowing global economic growth are presenting some interesting fixed-income opportunities within both developed and developing markets,' Owens says.
'There may well be some interesting inflation-linked opportunities [next year] as well as attractive currency investments as value and fundamentals reassert themselves as key drivers of markets rather than deleveraging and positioning.'
Augustus chief executive Tim Haywood says: 'Global Rates has yet again posted attractive numbers during a very challenging year for many hedge fund asset classes. This has attracted investors, who also respect the fact that the fund remains extremely transparent and invested in liquid assets.'
Augustus Asset Managers, formerly Julius Baer Investments until a management earn-out in January 2007, is an independent investment manager, with a focus on fixed income and foreign exchange. The firm offers a range of products across the risk spectrum, including long-only funds, single-strategy hedge funds and absolute return funds.
Augustus managed USD930m in hedge fund assets at the end of October in the JB Global Rates Hedge Fund, JB Emerging Markets Hedge Fund, JB Convertible Bond Hedge Fund, JB Currency Hedge Fund - Discretionary Segregated Portfolio and JB Currency Hedge Fund - Quantitative Segregated Portfolio.
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