According to the August fund letter, Plurimi World Long Short Equity fund managed by Prosper Funds recorded -1.4% for the month. With this detraction, year-to-date performance declined to +13.8%. In the same month, the benchmark, World Equity, outperformed, generating +1.3%.
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Patrick Armstrong and Eugen Fostiak manage this strategy that was incepted in January 2025. The cornerstone of the strategy is to invest in 30 attractive stocks from the global market, while keeping 30 short positions from the lower quality bracket of the market. The portfolio consists of a mix of value, quality, and momentum stocks.
Portfolio Discussion
Long Book Analysis
The long book was positive, delivering +1.0% which was still not enough to cover the outperformance of the shorts, which hurt the fund’s returns.
Strength in the long book came from several key holdings, including homebuilder D.R. Horton, which surged 19%. Similarly, technology holdings performed well, with Alibaba and Apple both gaining 12%.
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