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130/30 Fund Losses |
HenryTo
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Joined: 06 Aug 2004
Posts: 11707
Location: Los Angeles, California
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 Posted: Wed Aug 22, 2007 2:15 am Post subject: 130/30 Fund Losses |
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Goldman, BGI, etc., all took a huge hit during the first week of August. JPM, on the other hand (their 130/30 is still an institutional product but it will be available as a retail mutual fund soon), came out unscathed. As a matter of fact, it even beat the S&P 500 during the first week of August:
http://www.financialnews-us.com/?page=ushome&contentid=2448585927
| Quote: | JP Morgan Asset Management, which manages $2.5bn in 130/30 funds, is one. Its large-cap 130/30 US equity fund was flat in the first seven days of trading in August.
Paul Quinsee, chief investment officer of core US equities, said: “We have been expecting the volatility in this market to go up for some time and we have also been pretty cautious about the decisions we take in the financial sector.
“A long period of favorable conditions in the financial sector appeared to be ending. What’s helped us is our portfolio positioning and our ability to manage risk.”
It also reduced its short exposure to about 20% ahead of the volatility spike. |
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