Friday, 29 April 2016
Last updated 14 hours ago
Nov 14 2011 | 11:49am ET
Varus Capital Management's sizzling 2011 continued into the fourth quarter with a positive October leaving both of its Varus Fund share classes above 20% returns for the year.
While Varus, like most hedge funds, failed to capture all of October's equity market upside—the Standard & Poor's 500 Index rose almost 11% on the month—unlike most hedge funds, it didn't need to. Varus' dollar share class is up 27.5% on the year after adding 2.47% in October, while its euro share class is up 20.1% year-to-date following October's 1.46% return.
Varus, which recently won an investment from hedge fund seeder NewAlpha Asset Management, credited its October results to investments in the automotive sector, particularly in Germany.