The Series F of the Conservative Alternative Fund returned 0.91% in November, while the Series F of the Long Short Alternative Fund returned 1.29%, both net of fees. The difference between the two is largely reflected by higher relative exposure levels in the Long Short Alternative Fund, offset by positive performance from credit strategies in the Conservative Alternative Fund. Beta-adjusted net equity exposure was 32% in the Conservative Alternative Fund and 52% in the Long Short Alternative Fund. Net credit exposure was 31% in the Conservative Alternative Fund and remained at 0% for our Long Short Alternative Fund. Beta-adjusted net equity exposure was approximately 9% and 18% higher in each respective fund since October month-end. The increase in net equity exposure was driven by increases in conviction long positions and lower deltas on equity index put options. Net equity exposure was highest in the Technology, Consumer and Industrial sectors.
Alternative asset manager offering investment solutions that find a balance between asset protection and capital enhancement.
Alternative asset manager offering investment solutions that find a balance between asset protection and capital enhancement.