Results
Legends Fund holds a portfolio of 10 hedge fund luminaries. The Fund strives to invest with only the world’s best hedge fund managers for each of the main hedge fund strategies. These managers have proven over a sustained period of time to be able to achieve strong, absolute returns in different market environments. We expect our selection of managers to continue to outperform their peers and to achieve excellent long term risk-adjusted performance. On average, Theta Capital has been invested with these managers for more than ten years.
Performance Outlook
The current market environment offers a robust opportunity set for hedge funds not seen for several years. Ultra-low interest rates and fully valued equity markets mark the end of the success of a buy-and-hold strategy in equity and bonds. Hedge funds are positioned to profit from renewed interest rate volatility and find attractive shorting candidates. Disruptive sector developments offer rich pickings in both equity and credit markets and among both companies and countries. Divergent central bank policies create renewed currency volatility providing opportunities to our global macro managers. And record M&A levels offer an ideal climate for our event driven managers to pick and drive idiosyncratic situations while remaining largely insulated from the broader market gyrations.
Monthly perfomance (%)
| Returns (%) | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year | Index* |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 3.78 | 19.06 | 9.79 | 7.24 | -3.91 | -0.96 | 2.42 | 3.00 | – | – | – | – | 46.04 | 3.35 |
| 2020 | 0.41 | -1.40 | -7.76 | 4.91 | 1.70 | 2.35 | 4.11 | 6.96 | -3.02 | -2.08 | 2.53 | 7.31 | 16.04 | 3.00 |
* The HFRX Global hedge Fund index hedged to Euro