Hedge fund Newbrook Capital generated a net performance of 0.3% during the second quarter of 2015, according to a letter reviewed by ValueWalk. The fund's long positions contributed 1.4% of gross performance, and shorts took 1.0% off performance figures (negative return of 1.0%). At the end of the quarter, the fund's gross exposure was 125% with 28 long positions and 35 short positions. Net exposure stood at 41%.
Newbrook: Increasing exposure
During the second quarter, Newbrook increased its gross and net exposure on the belief that the US economic recovery is well underway and will continue, fueled by job growth and low oil prices. Additionally, Newbrook is forecasting that economic growth within Japan and Europe should benefit from QE and weaker respective currencies.
However, the fund...
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