1 November 2010 14:00
“The Triplepoint Fund, like other diversified portfolios of hedge funds has, on average, a 0.2 beta to equity markets,” O’Dea explained.
“Launching at the beginning of the US recession and given the S&P500 declined by nearly 40 per cent in the calendar year 2008, this helps to explain why Triplepoint has not met this objective to date. We believe this is similar to a balanced fund failing to meet a CPI+3-4%p.a. objective over the same time period.”
As super funds work to understand their total portfolio exposure to the artificial intelligence thematic, a complex picture of hidden betas and “attachment points” is gradually emerging. They also need to figure out how to play the same thematic in the “tricky” China market.
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