Castlewood Select Books Second Straight Double-Digit Year

Jan 23 2017 | 8:34pm ET

Castlewood’s flagship Select Opportunity Fund logged a net +13.5% return in 2016, according to performance data seen by FINalternatives, its second consecutive year of double-digit net gains.

In comparison, Hedge Fund Research’s HFRI Equity Hedge Index gained 5.49% last year.

“We are very pleased with the portfolio’s 2016 performance”, said Castlewood managing partner Mark Wittenstein in an email. “The return marks a second consecutive double-digit year, following our net +16% gain in 2015, and demonstrates the consistency of performance for which we aim.” 

“Stocks continue to confound investors, particularly those who called for a steep sell-off in the unlikely event of a Trump victory,” Wittenstein noted. “We expect stocks will move higher in 2017, although bouts of volatility will no doubt shake the market as investors now have to split their attention between the effects of monetary tightening by the Fed and anticipated fiscal stimulus from the new administration.” 

Headquartered in Princeton, NJ, Castlewood was founded in 2014 by Wittenstein and former Smith Barney executive Joseph Madison. The company’s main fund is a macro-oriented, multi-strategy vehicle aimed at generating long-term absolute returns. 

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