Money managers under the microscope
We hear German hedge fund K1 and its boss Helmut Kiener have attracted the attention of prosecutors, so it’s worth dipping into the hedge fund performance numbers to see what all the fuss is about.
Below is a chart from the K1 website showing the serene progress of Kiener’s “K1 Fund Allocation System” until the financial crisis sparked an unprecedented wobble that was quickly righted. The total return since inception though, is still comfortably above 800 percent.
Lipper data show the fund is up 2.04 percent over the three-months to end-September, up 7.49 percent over six months and up 10.85 percent over the last 12 months. Nothing spectacular, but consistently outpeforming other hedge funds in Lipper’s multi-strategy benchmark.
Allocations are also listed on the website, and show a 25.6 pct exposure to Equity Hedged strategies, 24.3 pct to Relative Value, 18.5 pct to Event Driven and 17 pct in funds of funds.