May 27, 2020 hugh hendry full eclectica letter on chinas impending collapse. Eclectica fund april 2012 pdf united pdf comunication. Eclectica asset management llp is authorised and regulated by the financial. A pugnacious provocateur, hugh hendry, is a passionate and colourful financial thought leader.
Last week we also posted a conversation with two noted hedge fund managers, kyle bass of hayman advisors and his staff here in dallas and hugh hendry of the eclectica fund in london. However, prospective investors must consider the uncertain significance of past performance in determining whether or not to invest in the eclectica fund. The eclectica fund performance attribution report december 2010 free download as pdf file. The investment objective of the fund is to achieve capital appreciation, whilst. Scribd is the worlds largest social reading and publishing site. Eclectica asset management llp eclectica is a shareholder of emi plc.
Technological advances allowed replacement of the audio and video cassette versions with much improved cd and dvd versions of these original performances. Eclectica asset management funds invest online today. May 23, 2010 his eclectica fund has essentially outlined two game changing scenarios. The full letter is worth a read and echoes many of the points we have made over the past few years. See much more exclusive q4 hedge fund coverage here.
He founded the firm in 2005, buying out the eclectica fund he managed from odey asset managements crispin odey, who described him fondly as a fellow pirate. The results portrayed for the eclectica fund are estimated, unaudited and subject to adjustment. The big achievement of the early years for the fund was in 2008 when the main eclectica fund returned 31. Development path theory idp, multinational corporations mncs, imperfect markets, eclectic. Foreign direct investment in vietnam munich personal repec. Also, the net results reflect the reinvestment of dividends and other earnings. The managers has disclosed holdings from 123112 to 093015. The wall street journal breaking news, business, financial. Aug 06, 2019 eclectica fund letter april 2012 pdf hugh hendry letter and views.
What matters most for school finance world bank group. Bold hedge fund star says stellar performance no longer. Eclectica asset management was founded in 2005 when hendry and his colleague simon batten purchased the management contract of the eclectica fund from odey to establish themselves as a standalone fund manager. Aug, 2020 items ordered from eclectica may be subject to tax in certain states, based on the state to which the order is shipped. Hugh hendry eclectica fund investor letter market folly. The power of irony rather than trying to compete intellectforintellect with the likes of george soros, julian robertson, and the other great minds of the hedge fund world, hendry instead relies upon what he calls. Eclectica asset management shows global macros rewards. Hugh hendry closes eclectica hedge fund business crottaz finance. Hugh hendrys eclectica fund sees hyperinflation via. Bold hedge fund star says stellar performance no longer enough. Eclectica hedge fund bleeding assets financial times. Heres the latest commentary from hugh hendry over at eclectica asset management.
The fund s tenyear nav progression demonstrates this. The key point is that eclectica asset management seeks to build a longterm track record by stringing together a sequence of. No, in 1965, economic growth got choked by a tight labour market. Eclectica fund management commentary, may 2010 courtesy of edward harrison at credit writedowns the pdf of hugh hendrys letter to investors is embedded below. Oct 19, 2019 eclectica fund april 2012 pdf published on october 19, 2019 by admin hendrys eclectica fund, which posted losses in and, last year made a wager on the currency rising that helped the fund gain eclectica fund, a global macro hedge fund established in october. School finance is complicated by how to identify and use the proper mechanisms for resource distribution that will ensure that funds reach students and schools. In terms of other portfolio positions, the eclectica fund has seen strong performance from its european sovereign cds positions as well as some of their interest rate swaptions in the uk, australia, and new zealand.
April 29, at pm by sheeraz raza hugh hendry full eclectica letter on chinas. View all eclectica asset management fund prices, performance, charges and savings. Hugh hendry and simon batten have turned their eclectica fund into a thriving business since leaving odey. Our discussions centered on what we all think has the potential to be the next greece, but on a far more serious level. The address is po box 309, ugland house, george town, ky11104, cayman islands. The eclectica credit fund po box 309, ugland house. Mr hendry, who gained prominence thanks to his bets against banks during the financial crisis, is also winding down his firm, eclectica asset. Hugh hendry ran the irrepressible global macro hedge fund eclectica for 17 years foreseeing not only the birth of the gold bull market but also profiting from the great financial crash of 2008. Eclectica asset management llp is based out of london. Yesterday hendry wrote to investors telling them he was.
Oct 28, 2020 hugh hendry eclectica letter pdf it wasnt meant to be like this. Popular legend has it that hedge fund managers are shy, secretive creatures who live in perpetual fear of the glare of media attention. The eclectica fund probably resemble the loud voiced black and white magpie, the only nonmammal capable of recognizing itself in a mirror. A lot of people define investors as value or growth. The eclectica fund equity and fixed income markets. The fee and operating cost amount for the eclectica fund was estimated by using the rate disclosed in their prospectus plus a 0. Hugh hendry is a fund manager at eclectica asset management.
Also, a tip for those of you wanting to print the document off rather than reading it in the. A month or so ago we also posted a conversation with two noted hedge fund managers, kyle bass of hayman advisors and his staff here in dallas and hugh hendry of the eclectica fund in london. Rather than berate the dollar for having failed to achieve the impossible i find myself agreeing with michael pettis who argues that it is the us who should be agitating for an end to the us dollar as the default reserve currency because this. Its more than just birthdeath its a seasonal thing a. Considering foreign direct investments in denmark aalborg. Eclectica has held a significant number of emi shares in the past year and currently owns or has exposure to 4m shares in emi via various custodians. Less than three years later he quit odey to set up his hedge fund boutique eclectica. Nevertheless, it is clear to us that this is the most difficult period for stocks in five years. Outside of this date, an estimate of this fee is calculated using the same performance criteria as that used by the administrator of the eclectica fund. Hugh hendrys farewell letter than three years later he quit odey to set up his hedge fund boutique eclectica. He began to attract attention when his fund achieved a 31. I meet a lot the eclectica fund, april hugh hendry after two years of silence, hugh. The greenlight capital funds the partnerships returned. Our discussion centered on what we all think has the potential to be the next greece, but on a far more serious level.
Historic performance is not a guide to future performance. In that vein i cannot but recommend harley bassman of pimcos piece on monetary policy at warp speed. E e e e e e e e e e e e 2 manager commentary, september 2017 out of thin air. Oct 10, 20 the eclectica credit fund is a legal entity registered with lei implemented by global legal entity identifier foundation gleif. The legal entity identifier lei is 549300dgd5zdn6332633. This document is being issued by eclectica asset management llp eam.
The eclectica credit fund po box 309, ugland house, george. Lastly, hendry mentions that since the chinese have started to import corn, this could possibly be the birth of a new trend. Hugh hendry, founder and cio of eclectica asset management, have made the difficult decision to close the fund, hendry said in the letter. Jun 14, 2019 eclectica fund letter april 2012 pdf hugh hendry letter and views. He definitely seems to be a contrarian here as the eclectica fund finished 2008 up 31. Like these unpopular birds i like to pinch from others their best shiny ideas.
Hugh hendry born march 16, 1969 was the founding partner and, at various times, the chief investment officer, chief executive officer and chief portfolio manager of the now defunct firm, eclectica asset management. Since its inception in may 1996, greenlight capital, l. Below we repost his full final letter in its entirety, and wish hendry good luck in his next endeavour. Our discussion centered on what we all think has the potential to be the next greece, but on a far more serious level that would be japan.
Apr 26, 2019 april 2012 tef commentary pdf the industry. Sep 18, 2019 eclectica fund april 2012 pdf hendrys eclectica fund, which posted losses in and, last year made a wager on the currency rising that helped the fund gain eclectica fund, a global. The eclectica master lp dato capital cayman islands. Asset management on his views on the markets, the performance of his global macro eclectica fund and. Eclectica fund letter april 2012 pdf hugh hendry letter and views. Hendrys eclectica builds asian bear portfolio to hedge. Company profile the eclectica master fund company profile pdf. The eclectica fund manager commentary the synchronous drawdowns in global equities from their december highs to the tentative lows observed so far in late january are equivalent to those witnessed in 2010, but not quite 2011. Eclectica has had positive trading results over certain periods in the past in the eclectica fund. Big hat tip to zero hedge for posting this great read up. If an item is subject to sales tax, in accordance with state tax laws, the tax is generally calculated on the total selling price of each individual item, including shipping and handling charges, giftwrap charges and other. The eclectica fund, like many highend cta funds, is run with multiple time frames of 1month, 3months and 1year, though of course the ctas are overwhelmingly systematic traders and hendrys approach is judgemental. He has become prominent in the united kingdom for his commentary on the. Cf eclectica agriculture fund cf eclectica continental european fund cf eclectica european fund cf eclectica global opportunities fund cf eclectica uk relative momentum fund this is an important document which you should read and understand prior to making an investment.
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