Newsletter June 2019

July 23, 2019

Legends Fund gained 2.20% in June, bringing performance for the year-to-date to 5.97%. This compares to 1.19%% and 1.92%
respectively for the HFRX Global Hedge Fund Index (euro hedged). Performance was strong across the Legends Fund portfolio
with only some minor laggards. Thematically, one area where performance has picked up and was especially strong in June
is Argentina. Two of our managers, VR Global and Autonomy, have built sizeable positions at what they consider to be highly attractive and distorted valuations. We expect these positions to continue to be an important contributor over the coming quarters as we are passing the upcoming election uncertainty.

Read the full Performance Update here

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