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3A expecting double-digit performance

Fund of hedge funds manager 3A is confident that its Altin portfolio will end 2008 in positive territory despite expectations that market turbulence will continue.

Altin returned 16.3 per cent last year and outperformed the HFR Funds of Funds Composite index by 6.05 per cent but the first quarter of this year saw it fall by 5.02 per cent, followed by a strong rebound in April.

It believes that hedge funds will deliver double-digit returns this year. Chief executive Jean Keller says hedge funds are equipped to protect investors from the fallout from the credit crunch and the slowing of the global economy.

He says their flexibility enables them to react faster than traditional long-only funds and they benefit from investing in a broader range of asset classes and strategies. He expects macro, equity long/short and credit strategies to outperform.

Keller says: “I believe it is going to be a good year for hedge funds. I think by and large they have protected investors in difficult conditions and that the bulk of the crisis is behind us.”

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