Wednesday, 22 February 2017
Last updated 30 min ago
Oct 13 2008 | 1:30pm ET
Not every hedge fund is down in the dumps. Mulvaney Capital Management’s Global Diversified Fund returned 11.58% in September bringing its year-to-date returns to 27.45%.
The firm said the main contributor to last month’s gain was its short position in stock indices because “the authorities’ failure to restore confidence in the global banking system prompted an abrupt sell-off in risk assets.” It also generated profits in fibers and industrial metals sectors but took a modest loss in the interest rates sector “as concern shifted from inflation to deflation.”
The US$100 million Global Diversified fund is quantitative offering covering the major financial and commodity futures markets worldwide. It charges a 2% management fee and a 20% incentive fee and is listed on the Irish Stock Exchange.