Castlewood Notches Third Consecutive Year of Double-Digit Returns

Jan 23 2018 | 11:19pm ET

Castlewood’s flagship Select Opportunity Fund booked its third straight year of double-digit returns, gaining +16.79% net of expenses in 2017.

The macro-oriented fund closed out the year with a +2.61% fourth-quarter return, according to managing partner Mark Wittenstein. It was the ninth consecutive quarterly advance for the fund. “By some measures, investors rarely had an easier time making money than they did in 2017,” noted Wittenstein before sounding a bit of a warning for this year. “There were almost no scary bouts of downside volatility to keep risk-takers honest…market sentiment is remarkably bullish [but] we think 2018 might be the year that investors are put to the test. 

“The market’s straight-line advance, without even a 5% correction, is nearing a run that has not been seen in more than 50 years,” he added. “While we believe that 2018 will be another good year for markets, we are on the lookout for a pullback along the way that could rattle investor confidence.” 

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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