Alta Fox's Opportunities Fund returned 0.92% gross and 1.1% net in the fourth quarter of 2022, according to a copy of the firm's year-end letter to investors, which Hedge Fund Alpha has been able to review.
For 2022 as a whole, the fund returned -19.5% net - that's Alta Fox's first annual loss since inception.
Despite this setback, the fund's long-term performance remains highly impressive. Since its inception in April 2018, the Opportunities Fund has produced a gross return of 511.9% and a net return of 317.5% (35.1% annualized net) compared to the S&P 500's return of 58.1% and the Russell 2000's return of 22.5%.
In the fund's year-end letter, Alta Fox's founder Connor Haley notes that the fund "strives" to ignore short-term...
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