The Class F Lead Series of the Multi Strategy LP returned 1.31% in January, while the Class F Lead Series of the Long Short LP returned 0.74% over the same time period, both net of fees. The difference between the two is largely reflected by higher relative exposure levels in the Long Short LP, offset by positive performance from credit strategies in the Multi Strategy LP. Beta-adjusted net equity exposure was 79% in the Multi Strategy LP and 69% in the Long Short LP at month-end. Net credit exposure was 44% in the Multi Strategy LP and remained at 0% for our Long Short LP. Beta-adjusted net equity exposure was approximately 26% and 25% higher in each respective fund since December month-end, driven by increases in the Consumer and Industrials sectors. Performance in January was led by attribution from the Industrials, Energy and Communications sectors. The Consumer Non-Cyclical sector detracted from performance, as did equity index hedges. We discuss updates on key attribution drivers in the month of January below.
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.