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The Castlewood Select Opportunity Fund registers third consecutive double-digit advance

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The Castlewood Select Opportunity Fund posted a 2.61 per cent gain for Q4 2017, capping a 12-month return of 16.79 per cent net of fees and expenses for the Macro Fund.

According to Mark Wittenstein (pictured), Managing Partner of the Castlewood Select Funds, the results extend to nine the Fund’s string of consecutive quarterly advances and the 2017 performance marks the third straight year of double-digit gains for investors.
“By some measures, investors rarely had an easier time making money than they did in 2017. Markets put together an impressive string of fresh highs and there were almost no scary bouts of downside volatility to keep risk-takers honest. In fact, the market did not spend even a moment in negative territory in all of 2017,” says Wittenstein.
Wittenstein sounds a warning, however, in his outlook for 2018. “Market sentiment is remarkably bullish as we enter the New Year, and with some cause. The economy seems to be on solid ground, with hopes that GDP growth might top 3 per cent this year, and many market participants are expecting a further boost to corporate earnings from the recently enacted tax reforms. Yet we think that 2018 might be the year that investors are put to the test. The market’s straight-line advance, without even a 5 per cent correction, is nearing a run that has not been seen in more than 50 years. While we believe that 2018 will be another good year for markets, we are on the lookout for a pullback along the way that could rattle investor confidence.” 

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