TechInvest's flagship Intercept Capital Fund posted a strong 1.2% return in February after taking into account fees and taxes. On an annualised basis the fund has returned 9.8% each year since its inception in March 2004.
The fund remains underinvested with 54% of gross assets being held in cash, 25.5% in long investments and the remaining 20.5% used for short sales. The manager said that the february result was largely driven by short positions more than offsetting losses on long investments. The main contributors for the month were short sales of Hemlett-Packard, Research in Motion and Boeing.
