Castlewood Select Opportunity Fund Up 1.6% For Third Quarter

Oct 5 2016 | 8:33pm ET

Castlewood’s Select Opportunity Fund posted a net gain of 1.6% for the third quarter, bringing the year-to-date return to 8.9%, according to information seen by FINalternatives.

The performance caps a 12-month return of 28.8% for the macro fund, according to the information. “We are extremely pleased with the fund’s performance to-date, particularly in view of our shift to reduce portfolio risk,” said Mark Wittenstein, managing partner of Castlewood, in remarks to FINalternatives.

Looking ahead, Wittenstein expects some market turbulence heading into the fourth quarter. 

“October is often an interesting period, marked by spikes in volatility,” he said. “This year, we have the added element of uncertainty around the outcome of the US Presidential election. Additionally, there will be key policy decisions by central banks, including the Federal Reserve Bank in December. With stocks fully valued, any surprises could push markets significantly lower.” 

Headquartered in Princeton, NJ, Castlewood was founded in 2014 by Wittenstein and former Smith Barney executive Joseph Madison.


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