Global Return Asset Management update for the month of March 2019, providing comments on cash.
Q1 hedge fund letters, conference, scoops etc
Dear Friends and Partners,
In March we generated a net return of 1.4%.1 We ended the month with 18% of assets in cash and had a net market exposure of -32%.
Year-to-date we've gained 19.3%, net.1
Comments on Cash
In Q4 2018, our cash balance was the lowest it's been in four years. In December we were fully invested and had no cash. (Our current cash balance is from continued inflows and the reduction of several holdings.)
Some...