Stenham Asset Management has had two of its funds, Stenham Gold and Stenham Trading, ranked in the Top 10 Performing Fund of Hedge Funds category by BarclayHedge.
The Stenham Gold Fund was launched in 2003 and has achieved an annualised compound return (USD) of 18.88 per cent over five years with a volatility of 23.67 per cent. Stenham Gold invests in gold bullion and gold hedge funds, with assets under management as at September 2010 of USD102m.
Jaspal Phull, portfolio manager, says: “The fund enables investors to benefit from the portfolio protection provided by gold but with less volatility. In the past, gold was primarily viewed as an inflation hedge. Partly due to the ongoing sovereign debt crisis in Europe and the uncertainty surrounding major currencies, the asset class is now seen as a hedge against fiscal and financial crisis.”
Stenham Trading is a global macro fund of hedge funds launched in 1993 and has achieved an annualised compound return (USD) of 8.69 per cent over ten years, with a volatility of 5.52 per cent. Stenham has over USD1.1bn invested in global macro hedge funds.
Javier Uribarren, portfolio manager, says: “Macro managers have the advantage of being highly liquid, can change direction across all asset classes quickly and have strong risk controls which enables them to cut losses should they need to. This is important when the global outlook is so uncertain and we strongly believe that macro managers will provide the flexibility needed to navigate through these challenging times.”