Despite Win On Tesla Short, TT International Has Rough 2014

Deutsche Bank TT International Hedge Fund Posts A Down Year As Short Exposure Weighs On Performance

December ended what was a troubled year for Deutsche Bank’s TT International European Long Short hedge fund.

In a letter to investors reviewed by ValueWalk, TT International reported that December saw a dip of -2.76 percent, ending the year down -9.51 percent as short exposure appeared to saddle the fund.

The fund, investing in mostly European shares, runs a fairly evenly distributed long / short  exposure ratio of 73.08 to (61.54) respectively and has fewer shorts than long positions in the portfolio. That said, short exposure of 24 stocks requires a significant amount of alpha, which was assisted by troubled stocks in the news from the...