Sinfonietta profits on volatility and a timely yen short


The Sinfonietta fund had a stellar month gaining 9.53%, and taking year-to-date performance to 12.03%. The Asia including Japan multi-strategy fund was short US dollars and also took the opportunity to go short yen at a very good time. The fund also had a fair amount of positions that benefited from increased volatility in the region.

Following the earthquake many asset owners panicked or were forced into liquidation mode and sold at highly distressed prices; the fund was able to trade Japanese and regional markets very effectively, taking advantage of rampant mis-pricing, explains Symphony’s David Baran.

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