RPD Fortress Fund's commentary for the month ended May 31, 2025.
RPD Fund Management LLC today announced that the RPD Fortress Fund posted a +1.47% net return in May, following +0.94% in April. This brings year-to-date performance to +4.44% net. Since inception, the Fund has now recorded positive returns in 27 of 28 months, continuing its track record of consistency and capital preservation across varying market conditions.
The Fortress Fund is designed to generate steady, uncorrelated returns with exceptionally low volatility and absolutely no use of leverage—under any circumstances, not even on a notional basis.
The strategy blends deep fundamental research with the sale of short-dated, cash-secured options on individual equities, allowing for disciplined risk-taking with strong risk management.
Effective September 1, 2025, the Fund’s redemption terms will shift from monthly (with 45 days’ notice) to quarterly redemptions with 30 days’ notice. There will be no lock-up or gate, and investors subscribing prior to that date will retain the current monthly liquidity terms.
“We’ve built this strategy to endure through different market cycles, and we’re pleased that it continues to perform as intended,” said Ahmet Okumus, Portfolio Manager. “The updated redemption terms reflect a better alignment with our investment horizon while preserving ample investor flexibility.”
Key Metrics as of May 31, 2025:
- Annualized Volatility: 1.86%
- Sharpe Ratio: 3.35
- Net CAGR Since Inception: 10.37%
- Leverage: None
- Liquidity:
- Subscriptions before Sept 1, 2025: Monthly, 45 days’ notice
- Subscriptions on/after Sept 1, 2025: Quarterly, 30 days’ notice
Approximately 40% of the firm’s total AUM is internal capital, underscoring strong alignment with investor interests.
RPD Fund Management LLC
+1 (212) 201-2650
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