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.”
Global equities have driven most of MLC’s FY26 return so far, but its exposures to insurance-linked securities and “esoteric” credit have also put in the hard yards and helped the fund diversify beyond the AI thematic, according to chief investment officer Dan Farmer.
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