Portfolio Commentary

Portfolio Commentary for the Absolute Capital Opportunities Fund is provided on a quarterly basis and can be found below along with other “discussion” articles that are relevant to the Fund. Additional information can be found within the shareholder letters in the Annual and Semi-Annual Reports. If you are a financial adviser and would like to be added to our e-mail distribution list, contact us by e-mail.

 

“…The Fund entered the year very defensively positioned but also owning significant options that would benefit from general stock market movement irrespective as to whether the movement was upwards or downwards. As the quarter progressed, the hoped for pickup in volatility materialized and the Fund benefited from movement both positively and negatively throughout the quarter…
 
…We continue to be well hedged towards the downside. We feel this level of hedging is prudent given the heightened starting valuations for many equities.”   [read all]