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Albemarle hedge fund awarded AA rating

The Albemarle growth fund has received an AA rating from hedge fund analyst Allenbridge Hedgeinfo.

Run by London-based Baltic Asset Management, the Albemarle growth fund is a multi-strategy fund of hedge funds which combines exposure to long/short equity, merger arbitrage, relative value, global macro, event-driven and special situations strategies.

According to Allenbridge Hedgeinfo, the fund has returned over 10.8 per cent a year since inception in early 2000 and over 13.5 per cent in the 12 months to June 2006.

The fund held more than 70 hedge funds at the time of the review and, given this level of diversification, Allenbridge Hedgeinfo believes its returns have been impressive.

The Allenbridge Hedge info ratings system is based on an assessment of the fund manager’s investment strategy and risk management, highlighting the due diligence process behind the selection of the underlying funds.

Allenbridge Hedgeinfo director Odi Lahav says: “We have known Baltic for a number of years. Our opinion of them has always been high and our ratings process has reaffirmed this.

“Many fund of hedge fund managers are cutting the number of funds in their portfolios but the managers of Albemarle believe that diversification is the key to managing risk.”

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