The Class F Lead Series of the Multi Strategy LP returned 1.73% in November, while the Class F Lead Series of the Long Short LP returned 1.22%, 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 64% in the Multi Strategy LP and 52% in the Long Short LP. Net credit exposure was 31% in the Multi Strategy LP and remained at 0% for our Long Short LP. 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.