Liongate Funds of Funds Up Double-Digits In ‘07

Jan 16 2008 | 2:00am ET

A pair of Liongate Capital Management funds of hedge funds has the British fund manager smiling. The firm’s $1.44 billion Multi-Strategy Fund gained 17.73% while its $216 million Select Fund fared even better at 24.36%.

The Multi-Strategy Fund has a diversified portfolio investing in 30 to 40 hedge fund managers. The fund returned an estimated 0.83% in December, with 31 of 37 underlying managers in its portfolio contributing to the positive performance, according to the firm. The best performing strategies in the portfolio were global macro and sector specialists, which contributed 0.45% and 0.28% respectively. Merger arbitrage was the worst-performing strategy, contributing a 0.27% decline to the portfolio.

The Select Fund is a more concentrated portfolio, investing in 20 to 30 underlying managers. The fund returned an estimated 1.41% last month as 27 out of 30 underlying managers were in positive territory. The best performing strategy in the portfolio was sector specialist, contributing 0.47%, with additional strong returns from event-driven, global macro and emerging markets, according to the firm. Activism was the only significant drag, contributing a 0.21% decline.

The funds charge a 1.5% management fee and a 20% incentive fee. The Multi-Strategy Fund has a minimum investment requirement of US$1 million, while the Select Fund requires a US$100,000 minimum investment.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

CAIS: How Technology is Disrupting the Alternative Investment Industry

Nov 7 2017 | 5:35pm ET

If there’s one thing that alternative investment professionals can agree on, it...