Cooper Creek’s North America Long Short Equity Fund Posts +0.7% In August, YTD Still At -12.8%

North America Long Short equity fund from Cooper Creek reported a +0.7% gain in August. These results reversed some of the negative performance accumulated during the year, with year-to-date (YTD) returns currently at -12.8%.

The fund's strategy relies on investing in a portfolio of high-conviction ideas that have a low net exposure. The portfolio typically includes small and mid-cap companies, identified through a value investing and catalyst-driven approach. This strategy aims to generate alpha from both the long and short books.

Also see: Cooper Creek Q3 Letter: Short Book Hurts Returns

Preferred geography for its portfolio is North America, and besides attractive valuation, companies need to have the potential for a turnaround. Regarding alpha creation, the fund aims to reap benefits both from the long and the short book. Currently, the whole strategy has $1.66 billion in assets under management (AUM), while the fund keeps $696 million in AUM. In August, this strategy resulted in the fund's first positive month since April.