Lava Fund, the long/short volatility fund run by Singapore-based manager Vulpes Investment Management, has lost nearly a fifth of its value since it was launched in May last year.
The fund, which currently manages around $30 million in assets, incurred a 6.54% loss in September. That stretched its loss year-to-date to 22.13% after short dated volatility wrought havoc on the portfolio through the period. During the year...