Castlewood Select Posts Fourth Consecutive Monthly Gain

Dec 13 2016 | 9:34pm ET

Castlewood’s Select Opportunity Fund posted a net gain of 1.7% in November, bringing the year-to-date return to 12.2%, according to material seen by FINalternatives.

The fund’s 12-month return is 12.9% for the macro fund, said Castlewood managing partner Mark Wittenstein. 

“Markets were particularly challenging heading into November with all of the uncertainty surrounding the outcome of the presidential election.” said Wittenstein, admitting that the market’s response to the Trump victory was a surprise. “In the eyes of the market, it seems that the wrong candidate won, yet instead of selling off by 10% as many analysts were calling for, the market rallied to new highs.” 

Castlewood expects the equity market rally will continue into year-end, buoyed by optimism over the potential for pro-growth policies of the new Trump administration and the usual December seasonal effect.

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

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