Tuesday, 4 August 2015
Last updated 8 min ago
Jan 22 2007 | 5:33pm ET
Buoyed by a big year for its Verity Absolute Return Fund, New York-based Verity Capital has decided to merge its long-only fund into its Absolute Return fund, a long/short vehicle.
In a note to prospective investors, Verity called the two-year old Absolute Return fund “simply a superior product offering the up-side of our value-based equity selection with downside protection.”
The $12 million fund returned 18.34% last year, easily topping the Standard & Poor’s 500 Index, a feat all-too-infrequently achieved by hedge funds in 2006.
The Absolute Return fund invests in between 25 and 30 undervalued names, with a hedge utilizing shorted exchange-traded funds. The firms says it uses the same principles and metrics to evaluate both the long-only equity portion and to find the weakest market sectors in which to short ETFs. The fund has a $100,000 minimum investment requirement.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…