August 2014
As we approach the end of the summer and the start of a new school year, I thought it might be useful to update you on our recent performance and market views.
Polygon’s performance continued to be strong, in both absolute and relative terms, in the first half of the year, with returns for our primary strategy, Global Growth, averaging 6.9% (net of fees). As of 8/22, Global Growth was up 7.6%. For comparative purposes, year to date, the Dow is up 2.6% while the MSCI World Equity Index gained 5%. So despite our lower risk, diversified approach, which had an average equity weighting of approximately 70% (the remaining 30% was in fixed income and alternatives), we were able to exceed almost all equity indices over this period, not to mention bonds. This kind of risk-adjusted out performance is consistent with our long-term average annual returns of 12% since Polygon started at the end of 2002.
Continue Reading ...