Newsletter February 2018

In February Legends Fund lost 2.87%. Five of the underlying funds reported gains despite the highly volatile market environment and our long-short equity and global macro managers held up quite well. Our event driven funds however suffered significant losses, something which was not surprising given their current large net long positioning. What was less typical is that half of the losses were accounted for by two trading funds that in the long run exhibit little correlation to general markets. Both Transtrend and Andurand Capital reported double digit losses on the back of steep drops in equity and commodity markets, which was a sudden reversal of strong recent uptrends.

Read the full Performance Update here