UK - State Street Global Advisor's (SSgA) European equity long-short market neutral strategy has celebrated its first anniversary with a solid 12 month return achieving out-performance of the cash benchmark in line with expectations.
The strategy achieved a return of 9.9% to June 30, 2001. The three-month Euribor benchmark return in the same period was 4.9%.
SSgA said its results can be attributed to its model-based market neutral process producing well diversified portfolios enabling the fund to outperform during high volatility, sharply falling European equity markets and deteriorating global sentiment.
Michael Schoeck, head of active quantitative equities at SSgA, said: “Hedged strategies are an increasingly popular and appealing option for investors who believe that the return potential of traditional asset classes may be more limited in the years ahead and who therefore seek exposure to alternative investment vehicles.”
By Janet Du Chenne
This week's edition of Professional Pensions is out now
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