Global Capital Management says its Global Umbrella Europe Hedge Fund, a fund of hedge funds invested with European hedge fund managers, has returned approximately 6.6 per cent year-to-d
Global Capital Management says its Global Umbrella Europe Hedge Fund, a fund of hedge funds invested with European hedge fund managers, has returned approximately 6.6 per cent year-to-date.
The fund outperformed the Eurekahedge Europe Multi strategy fund of funds index (2.78 per cent), which represents the fund of funds in Europe, by over 100 per cent and the MSCI Europe index (4.3 per cent), which is a Europe focused equity index, by over 50 per cent.
During 2008 when the European capital markets were exposed to high systemic risks, the fund followed a conservative approach by reducing its beta exposure. By the beginning of 2009 when systemic risks were reduced, the fund shifted to a more prudent strategic approach by investing into hedge fund strategies that can generate alpha while maintaining low volatility.
The fund is currently invested with a diversified pool of managers who pursue strategies such as equity long/short, global macro, event driven, CTAs and multi-strategy.
Shailesh Dash (pictured), managing partner at Global Capital Management, says: ‘The hedge funds team at Global Capital Management provides prudent investors looking at hedge funds for diversification a wide range of products that can meet any investor need within this asset class. This includes regional, international and strategy focused funds.
‘Hedge funds with their returns uncorrelated to market are becoming all the more important an asset class of choice for sophisticated investors. Although the hedge fund industry has decreased in size, the overall decline in value of assets in the hedge fund space is lower than other parts of the capital markets. Hence, hedge funds are now emerging with a larger share of investments than it had before. Moreover, new studies have shown that the superior performance of hedge funds over traditional long only funds during the crisis period has resulted in attracting several new investors to this space.’
