InvestNow News – 13th Dec 19 – Salt – Long Short Fund Fact Sheet – November 2019
The Fund experienced a solid month in November, with a return of +0.90% after all fees and expenses. In contrast to previous months, where volatile markets saw us add value from both sides of the ledger, general strength in November saw a headwind from our shorts but this was more than offset by several of our eclectic longs doing very well.
While the Fund’s net length of +36% appears unusually bullish by our somewhat cautious standards of the last several years, the nature of our longs is even lower beta than normal. Notably, the Fund has performed strongly post period-end amidst the sharp sell-off at the start of December.
Extreme valuations dictate that we remain wary of current markets and we will continue to adhere to our goal of providing a true alternative of equity-like returns with far less volatility than equities and no correlation to them.