Redwood Capital’s Apeiron Global Macro fund has continued to show the benefits of diversification away from equities with a positive performance in September of +7.22%, bringing 2008 YTD performance to +13.55%.
Apeiron's monthly performance report noted that they had reduced overall risk in the portfolio as a prudent measure to the fear that was building in financial markets. As a result they were short equity indices, and held very limited exposure in other markets during the month.
The Apeiron Global Macro Fund uses directional strategies in futures and FX markets to implement investment themes. The fund was formerly called Solaris Global Macro, and returned 20.79% in calendar 2007.
