Funds of Hedge Funds

Managed futures come of age for Abbey Capital

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2008 was a bumper year for CTAs and with investments across 18 managers the ACL Alternative Fund excelled. CTAs also score in the liquidity and transparency stakes, leading issues for investors today

2008 was a bumper year for CTAs and with investments across 18 managers the ACL Alternative Fund excelled. CTAs also score in the liquidity and transparency stakes, leading issues for investors today

By Claire Makin

When Abbey Capital's ACL Alternative Fund racked up a return of 41.8% in 2008, chief executive officer Tony Gannon and his team did not break out the champagne. Instead, they analysed the numbers to see if their managers had inadvertently taken excessive risk to achieve returns they saw as abnormally high.

Tony Gannon and Mick Swift


The answer was