Antipodean Capital Management's Global Volatility Arbitrage Strategy ended 2008 with a return of +3.22% in December and +17.34% YTD.
The strategy, which uses a stochastic volatility model to identify investment opportunities from a basket of equity and FX assets, attributed the positive December result to buying Equity S&P500 (VIX) put options.
Antipodean's other absolute return funds, the Diversified CTA Strategy and the A$ Currency Strategy (3x), returned +2.03% and -0.04% respectively in December.
