The BTG Pactual Rates Fund returned 0.64% in March, according to a copy of the firm’s monthly investor update, which Hedge Fund Alpha has been able to review. The fund seeks to achieve steady, long-term capital appreciation with low volatility by capitalizing on arbitrage opportunities across liquid US rate curves, including the Treasury and agency security markets.
The year to the end of March, the fund returned 2.26% net.
Since its inception in April 2016, the fund has produced an annualized return of 6.8% with a standard deviation of 2.1 and a Sharpe ratio of 2.56. The maximum drawdown since inception is -1.33%, with 86% of months in positive territory.
In comparison, its fixed-income benchmark, the BBG US Agg TR Bond Index, has...
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