Friday, 1 August 2014
Last updated 4 hours ago
Dec 3 2008 | 10:25am ET
Not long ago, hedge funds doubling their assets under management was a fairly regular occurrence. In today’s market, it’s big news.
Augustus Asset Managers said its JB Global Rates Hedge Fund has more than doubled in size, growing to US$308.8 million from US$134.8 million in the year through the end of October. The fixed-income and currency macro fund has returned 13.56% year-to-date.
“Current market dislocations amid rapidly slowing global economic growth are presenting some interesting fixed-income opportunities,” fund manager Adrian Owens said. He predicted that value and fundamentals will return next year as the main source of returns, rather than the market dislocations.
Augustus, the former Julius Baer Investments, manages some $12 billion in both long-only and hedge funds.