The Mooring Capital Fund has delivered a total return to investors of 242.51 per cent and a quarterly compounded return of 12.40 per cent per year from inception in June 1999 through 30 June 2009, according to Mooring Financial.
For the same period, the S&P 500 posted an annual compounded return of -1.70 per cent and the Credit Suisse/Tremont Hedge Fund Index reported a quarterly compounded annual return of 6.89 per cent.
The second quarter of 2009 marked the tenth year of operation for the metropolitan Washington, DC-based investment fund.
Mooring Capital Fund is an investment vehicle that acquires and manages distressed, sub-performing and performing commercial loans. The portfolio is diversified by both asset type and geography.
The fund’s loans are secured by office buildings, retail centres, warehouses, assisted living facilities, aircraft and marine vessels, and religious institutions. These assets are located throughout the US and internationally, with primary market focus in the Mid-Atlantic and southeastern US.
The fund also takes long and short equity positions in the financial and real estate markets for up to 20 per cent of its assets.
As of 30 June 2009, the fund had over USD62m in total gross assets.
John Jacquemin (pictured), founder and president of Mooring Financial, says: "Our flagship Mooring Capital Fund has provided a consistent record of performance to investors since inception ten years ago. We are very pleased with the fund’s sound long-term performance, demonstrated by a total return of 242.51 per cent over the last decade.
"Looking ahead, we will remain on course with the core investment approaches for the fund, principally focusing on various commercial loans as well as select equity positions within the financial and real estate sectors. This consistent strategy has served investors well to date and we believe should continue to provide a sound investment opportunity."