JWH Hit By Equities Sell-Off

Mar 21 2007 | 2:45pm ET

John W. Henry & Company started the year flat, but descended into negative territory last month. All of the firm’s programs suffered negative returns, with the Financial and Metals Portfolio (down 10.50%) and the Global Diversified Portfolio (down 10.40%) having the worst month out of eight programs.

Chief Operating Officer Kenneth Webster, in his monthly investor letter, attributed the programs’ increasingly-familiar poor performances to an “explosion in volatility” during the last week of February. “Trading through that point was mostly positive for the month, but the events of the week reverberated throughout the market and reversed what few trends that had been evident earlier in the month,” wrote Webster.

Last month’s short-term volatility spike drove down strong corn and wheat prices, according to Webster, and hurt rallies in precious and base metals. Although he admitted that the firm’s programs were not “positioned for this sudden turn of events,” he remains cautiously upbeat for the months ahead: “An element of turmoil has been injected into the markets, which if it persists, has the potential to be a positive development for our style of trading,” he wrote. 


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note