Rhizome Partners, the real estate-focused hedge fund managed by Bill Chen, has had a strong start to 2018. Following an uninspiring performance in 2017, when the fund produced a net gain of 5.6% for investors, for the three months to the end of March, Rhizome returned 3.5% compared to a loss of -0.8% for the S&P 500 over the same period.
The fund has been able to achieve this performance despite having a large cash allocation.
According to the first quarter letter, a copy of which has been reviewed by ValueWalk, over the five years since inception (April 10, 2013) Rhizome has produced a 10.4% net annualized return and a 63.7% cumulative net return while the fund held 40% cash...
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