German Firm Operating from Moscow’s Financial Center Produces one of the World’s Best Fund Performances with +30% over Past Three Months, 38% pa over Four YearsBy Wermuth Asset Management wam, PRNE
Tuesday, November 1, 2011
MOSCOW, November 2, 2011 -
Wermuth Asset Management, a German alternative asset advisory firm with its core operations in Moscow, has used its international experience to deliver world-beating performance from its flagship quant fund in the last three months, even as market volatility has inflicted widespread losses around the globe.
Wermuth Asset Management’s Quant Long/Short Equities Fund - Global Strategy (”Quant GS”), was among the best-performing funds anywhere in the world in August and September, according to the Financial Times, posting a NAV increase of 23% over the two months. US markets fell 12% over the same period. In October, the fund was estimated to have added another 10% for a total gain over the three months of 33%. Since inception on 30 September 2007 the strategy has returned 38% per annum net of fees.
Jochen Wermuth, co-founder and CIO of Wermuth Asset Management, said:
“A country that sent the first man into space, has delivered some of the world’s best mathematicians, physicists and chess masters is now producing some of the finest investment and managers in the world. We are delighted to have them working for us at WAM, helping us to achieve exceptional returns for our investors in one of the most challenging financial markets we have seen in years.”
“Quant GS uses an aggressive short-term, trend following model. Buy, sell and hold lists are generated by an experienced in-house macro-economist based in Wiesbaden and a strong bottom-up research team based in Moscow. The quant team then uses the research results as well as its proprietary algorithms - developed and applied since 2005 - to automatically enter and exit positions, taking both long and short positions. The processes are monitored by a rigid risk management system that is ultimately supervised by the firm’s German controller.
“While these funds have until now been limited to a small group of WAM investors, we are now considering opening them up to new subscriptions of up to $100 million.
“Our quant GS’s Russia-focused counterpart, the Wermuth Quant Long/Short Equities Fund - Eastern Europe Strategy (”Quant EES”) Fund, also turned in a market-beating performance over the past three months. It is one of the few Russia-focused funds in positive territory, up over 10% ytd, even as the local index and many other funds lost some 25% of their value.”
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Tags: Germany, Moscow, November 2, Russia, Wermuth Asset Management (wam)