From the Opalesque team: The Copernico Special Situations Fund was up 0.02% in July, bringing the YTD return to 2.40%. Total return since inception (August 06) is 22.02% or 10.46% on an annualized basis.
In the fund's monthly report sent to Opalesque, the fund manager comments: “… July was the month when the decoupling story started to fade. A developing recession in the developed world alleviates inflationary pressures through lower commodities prices and supports a soft landing scenario for EM, where healthy domestic finances and infrastructure spending offer several safety nets to a hard landing. The abatement of inflationary pressures could trigger though a correction on EM currencies that appreciated (BRL, MXN) strongly in anticipation of a hawkish reaction by local central banks.” infocopernico@copernico.com.uy.
Hedge Funds Exclusive: Copernico`s Argentina fund suffers from the country`s changes in tax legislation and economic deterioration From the Opalesque team: The Fund lost 2.12% in July and is down 0.99% for the year. July’s return would have been closer to 1% if it weren’t for the negative impact of the latest changes in Argentina’s tax legislation. The fund has returned 134.57% since its February 2003 inception. The Merval Index and the EMBI+ Argentina are 11% and 16% down, resp......................
Source:
http://www.opalesque.com/AMB2008/46487LatAm_LatAm_special_sits_fund_up.html
Top Stories:
http://www.opalesque.com/AMB2008/46471Seeders_newest_seeder_fund_announces.html
http://www.opalesque.com/AMB2008/46472Russia_Georgia_Special_Bank_of.html
Posts
No comments:
Post a Comment