Manager letters can be a good source of market context for hedge fund returns. In particular managers taking a quantitative approach are risk aware by nature and typically have a numerically stronger way of expressing the market conditions, and the suitability of their own methodology for extracting value from them.The overview reproduced below comes from Quant Asset Management of Singapore, managers of a portfolio of global equities.
|The QAM Team|
UCITS III Footnote – the offshore fund from QAM was down 23.49% over the period end Feb 2011 to the end of November. The onshore equivalent – Quant Global Equities fund, a sub-fund of the Quant AM SICAV (a UCITS III type fund) – was down 27.77% over the same period. The onshore version launched in March this year.