The FMG Global Fund completed its second month of operation with the new systematic mandate in June. FMG Global Fund has historically been a fund consisting of primarily equity and macro long/short managers.

 

As of May 2010 FMG has replaced all hedgefunds with a systematic approach that shifts assets between various asset classes.

 

- A material cash portion of around 40 pct helped cushion the downside as world equity markets shed almost 4 pct during the month. The simulated returns going back nine years, net of estimated fees, generated a compounded return  per annum of 15 pct while the World index gained less than 1 pct, writes FMG Global Hedge Fund.

 

The FMG Global Fund lost 0.7 pct in June.