In May, the Fund’s NAV jumped +13.23% and easily outperformed its salient benchmark by 205 basis points after the MSCI EME Index only rose by 11.17%.
The Investment Advisor is pleased to report that in May 2014, the firm’s total assets under management (“AUM”) once again reached US$238 million, exactly 100% more than its pre-crisis peak of US$119 million in May 2008 and only a notch below the all-time-high of $276 million reached in December 2013. The firm’s other strategy, called the Diamond Age Atlas Fund, which was launched in July 2012, returned +19% in May, while it was up a remarkable +21% over the full 2013 calendar year. The Investment Advisor is also pleased to report that according to the new ranking of Russian hedge funds compiled by SPEAR’s Russia, the Diamond Age Atlas Fund came third out of the 33 different funds and fund managers which were ranked for their performance and Sortino ratio. In fact, the Diamond Age Atlas Fund is actually number one in its investment universe since the first two funds have completely different mandates and do not invest in Russia.