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Dec 24 2007 | 10:04am ET
Alternative investment firm Last Atlantis Capital Management has launched a 130/30 strategy that aims to yield consistent, low volatility returns over various market conditions.
Assets allocated to long positions within the new vehicle, LACM Long/Short Equity, are equally distributed among the baskets and stocks in each basket. Short positions represent 30% of the portfolio’s overall value with funds from the short sales equally allocated to long positions to maintain diversification.
“This 130/30 program uses the same modeling characteristics as our Long Equity Share Class V,” said Irwin Berger, a managing partner at the St. Thomas, U.S. Virgin Island-Based firm. “The objective is to diversify equity positions over multiple timeframes and equity baskets to minimize volatility impact and deliver consistent performance over the long term.”
The manager generally does not hold more than 3 stocks in the same industry, and long positions are typically held a minimum of 4 weeks with 8 weeks being average; short positions are generally held 2 to 3 weeks on average. The manager does not screen for market capitalization, but does set minimum liquidity and share price standards.