Performance

Specialist in Global Macro and Volatility Fund

Performance of Putamen Growth Fund from October 24th, 2018 (Inception) to February 3rd, 2021: 56.74%, outperforming S&P500 Total Return (45.18%), Europe, Australia, Far East (EFA; 24.95%) and Vanguard World Stock Index (VT; 41.39%).

Letter from our CIO , October 24th 2019

This month marks our first anniversary of Putamen Capital, a milestone we are proud to achieve and hope to build on. Putamen Growth Fund (PGF), our only fund so far, returned 34.22% in the first year, far outperforming world’s equity indices, on the backdrop of weak global growth and trade volatility.

PGF maximum drawdown and downside deviation, at 8.85% and 3.11%, are slightly below S&P500 and is on par with our benchmark, MSCI ACWI. The slightly lower risk and outperformance of the fund result in much higher Sharpe and Sortino ratio, more than double world’s equity indices. We attributed this performance mainly on our investment screening process, based on both quantitative and fundamental approach, security/country selection and strict risk management procedure in managing volatility.

In the year ahead, we are planning to invest more in our quantitative infrastructure, including the transition from Matlab to Python that would allow greater compatibility and collaboration with researchers outside the fund’s core management team. We are also building a more systematic screening process to economics data across countries to improve our fundamental screening framework. And more importantly, we are expanding our country coverage from previously EM focused into global one, with Japan as our deep-dive project in the coming months.

Finally, we want to say thank you to everyone who has made this fund possible, we are looking forward to your cooperation in the coming years.

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