Tibra Capital's Australian Market Neutral Fund has posted its first negative month for July (-7.32%) since inception in October 2007 to take 2008 YTD performance to +26.89%.
The manager noted in their monthly investor newsletter that the portfolio had previously benefited from a thematic long bias to energy stocks, and the sharp sell off in oil led to a fall of almost 16% in the energy sector, and a fall of 6% on the ASX200. They also pointed to continued reduced option volumes across all sectors, reflecting a continued lack of confidence in an oscillating but directionless broader market.
Tibra Capital Management is the funds management division of Tibra Capital, a diversified financial services company with global operations. The fund has an investment universe of the ASX200 index, and aims to deliver net absolute returns of 18-22% pa regardless of market conditions.
