Thursday, October 10th, 2013

A unique Global Macro Hedge Fund designed to deliver attractive returns, excellent liquidity, and low correlation with the major asset classes.

Sydney, Australia – The Zen Capital Management Global Fund SP was launched one year ago (on 1 October 2012). Since inception the fund has delivered a return, after costs but before fund administration fees, of -7.57%.

Managing Director Gregory Carroll said “Most of our losses over the 12 months resulted from intermittent data problems experienced during our first 5 months of trading. Over that period our NYSE data was terminated on five occasions and, intermittently, left us without data for a total of seven weeks. We also experienced data issues in July 2013 and completed a major technology upgrade at that time to resolve those issues”. 

Despite a disappointing 12 months, in 4 of the 6 months in which the fund did not experience technical issues its performance exceeded that of its peers. Over those four consecutive months the fund returned 3.92% against the HFRI Composite Index which rose just 1.09%. 

In reviewing its performance, Zen has announced it will no longer target portfolio volatility which is half that of the S&P500. It will also relax its correlation target of 30% against the S&P500. Zen says these changes will improve their risk/return profile during critical periods. Zen also announced significant enhancements to its trading system. 

Mr Carroll said “as we move towards being 100% systematic we have been testing and programming a number of enhancements to our trading system. Our latest enhancements, implemented on 1 October 2013, are the most significant changes we have made to our system in the 12 years of its development. As such, we expect 1 October 2013 to be a significant turning point in the performance of the fund”.

File Library

Contact Profile

Keywords

Global Macro, Hedge Fund

Categories

Sharing

More Formats