Boothbay Flat for Q3 As Fundamental Long/ Short Equity Detracts; Firm Expands In Europe And Ups Crypto Arbitrage Strategy [Exclusive]

For the third quarter, Boothbay Fund Management's Absolute Return Strategies (BBARS) returned 0.17% net, while the BBARS Enhanced Class returned -0.24% net. On a year-to-date basis, BBARS is up 3.67%, while the Enhanced Class has gained 3.86%.

Boothbay Diversified Alpha Master Fund (BDAF) returned 0.19% net, while the BDAF Enhanced Class returned -0.28%. Year to date, BDAF has gained 3.94%, while BDAF Enhanced is up 3.76%.

Year to date, the HFRX Equity Market Neutral Index is up 5.83%, while the HFRX Absolute Return Index has gained 4.04%. The HFRX Global Hedge Fund Index is up 5.08% year to date, and the S&P 500 has returned 20.81% year to date.

On an annualized basis since inception, BBARS has returned 9.34%, compared to 0.58% for the HFRX Equity Market Neutral Index and 2.14% for the Absolute Return Index. The HFRX Global Hedge Fund Index generated an annualized return of 1.66% over the same time frame, while the S&P 500's annualized return was 11.09% since BBARS' inception.

The firm currently has approximately $2.2 billion AUM, with most of that capital in the BBARS fund.

Planting seeds

In his third-quarter letters to investors, which were obtained by Hedge Fund Alpha, Ari Glass said BDAF marked its fifth anniversary during the third quarter, while BBARS hit its tenth anniversary in July.