Noster Capital has returned an impressive 29% year to date, almost double the S&P 500's 15% return. However, the fund was off 2.6% for the second quarter after a 4.9% return in May and a 4.9% decline in June. For comparison, the S&P declined 4.2% in April and rose 4.8% in May and 3.5% in June.
During the first quarter, the fund's hedges returned 17.3%, followed by its equity holdings at 11.2%. Unfortunately, the second quarter brought a reversal of fortunes for both, but its hedges remain up 15.1% year to date while its equities portfolio is up 7.6%....
