HOLD Asset Management (former Concorde Asset Management) currently manages over 35onomics, Central and Eastern European equities and fixed income. Investment managers draw on a number of these sources as well as standard market data services like Bloomberg and Reuters and have access to analyst reviews internationally.
The 16 investment managers responsible for managing the HOLD (former Concorde) funds keep the requirements of the specific mandates and associated risk constrains at the fore. We believe that flexibility and quick time to market are key attributes of a successfully managed hedge fund. This is why at HOLD the investment decision making process is not encumbered with bureaucratic hurdles. None the less, our procedures are within the legal guidelines and at times are subject to more stringent scrutiny to fairly serve client interest.
Five of HOLD Asset Management’s funds are being made available to investors internationally. Four of these follow an absolute return strategy, while one, Concorde 2000, our flagship vehicle with a 18 year track record, is a long only Central and Eastern European balanced fund.
|Absolute return strategies||CEE long bias total return strategy||Benchmark tracking strategies|
Platina Pí Absolute Return Fund
HOLD’s Platina Pí fund is an absolute return fund with a target return of ten percent over the risk free rate, irrespective of the macro economic and capital market environment, while maintaining moderate risk exposure. Since its inception in 2006 it achieved an annualised return of 15.67% with the annualised standard deviation of daily returns being 12.11% and a Sharpe ratio of 0.72.*
Concorde-VM Absolute Return Fund
Concorde-VM is the most conservative of HOLD Asset Management’s absolute return strategies. The Fund’s objectives are two pronged; the return objective of five to ten percent over the risk free rate is complemented by a strong focus on capital preservation. The managers’, Ferenc Faragó and Tamás Makara, success in reaching this objective had been borne out by the Fund’s performance. Concorde-VM’s performance has always been positive for any 12 month period since its inception, while the annualised since inception return of Concorde-VM was 8.74% with no leverage. The annualised standard deviation of daily returns for the same period was 3.72% and the Sharpe ratio 0.52.*
Concorde Columbus Absolute Return Fund
Concorde Columbus Absolute Return Fund has a global mandate and may invest in a broad selection of assets including equities, bonds, commodities as well as derivative instruments with the prior as underlying assets. Due to the significant local expertise of the managers; Daniel Móricz and Tamás Cser the Fund is overweight in Central and Eastern European positions be it long or short. The managers primarily rely on fundamental analysis when selecting assets, albeit market timing may be influenced by technical factors. Concorde Columbus is managed with a relative value approach, often investing in securities that are less well covered by analysts and are consequently under valued.
Citadella Absolute Return Fund
Citadella is one of HOLD Asset Management’s absolute return funds. Viktor Zsiday, the manager of the fund, combines a global macro approach with technical analysis to generate target returns of five to ten percent over the risk free rate.
*December 31st 2014.