Merrion fund celebrates 9% return on first anniversary

The fund, an equity long short UCITS hedge fund, is managed by the Midmar Capital LLP investment team who reports the 9% return reflects genuine stock alpha as it has captured the underlying market return with an average net long exposure of around 40% and average gross exposure of less than 100%. On a month-by-month basis the fund has had relatively low correlation to the market, delivering positive returns during negative months. This has been achieved by the short book delivering positive returns during rising markets and, most recently, many of the fund’s long positions have held up ...