The Castlewood Select Opportunity Fund posted a 1.6 per cent return net of fees and expenses in the third quarter.
According to Mark Wittenstein, managing partner of the Castlewood Select Funds, this puts Castlewood up 8.9 per cent year-to-date and caps a 12-month return of 28.8 per cent for the macro fund.
“We are extremely pleased with the fund’s performance to-date, particularly in view of our shift to reduce portfolio risk,” says Wittenstein, who expects some market turbulence heading into Q4.
“October is often an interesting period, marked by spikes in volatility. This year we have the added element of uncertainty around the outcome of the US Presidential election. Additionally, there will be key policy decisions by central banks, including our Federal Reserve Bank in December. With stocks fully valued, any surprises could push markets significantly lower.”
