Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
Browse the world's most comprehensive archive of hedge fund manager letters. Access primary source research from leading institutional managers, sorted by reporting period.
AFC Asia Frontier Fund delivered an estimated +17.5% return in 2025, its third consecutive double-digit year. The fund enters 2026 in a market 'sweet spot' defined by highly depressed valuations (6.7x P/E) and robust macro tailwinds.
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AFC Asia Frontier Fund delivered an estimated +17.5% return in 2025, its third consecutive double-digit year. The fund enters 2026 in a market 'sweet spot' defined by highly depressed valuations (6.7x P/E) and robust macro tailwinds.
L1 Long Short Fund outperformed its benchmark by 8.6% this quarter, driven by strong gains in key commodities and value stocks. The fund is rotating out of fully valued domestic names into highly asymmetric offshore value opportunities.
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L1 Long Short Fund outperformed its benchmark by 8.6% this quarter, driven by strong gains in key commodities and value stocks. The fund is rotating out of fully valued domestic names into highly asymmetric offshore value opportunities.
PM Capital posted a strong quarter driven by gold, copper, and European banks, while actively trimming fully valued assets to maintain strict valuation discipline amid cautionary market sentiment.
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PM Capital posted a strong quarter driven by gold, copper, and European banks, while actively trimming fully valued assets to maintain strict valuation discipline amid cautionary market sentiment.
