In September, Fulcrum Asset Management's Income Fund netted a +3.2% gain. This comprised +2.5% from capital returns and +0.6% from payments. Last month's performance was the best this year. It pushed year-to-date gains to +10.7%.
The hedge fund's threshold aim is a +4.5% annual income above short-term interest rates. The maximum performance aim is +8%. The fund also targets volatility below 12% over a three-year period. The fund has $203 million in AUM. The entire firm manages over $8.2 billion. In its monthly commentary, the fund's managers detailed the drivers of September's performance.
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