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Monday December 17 2018
 
Three Magnum Funds Ranked Among Top 5 In Hedge-Fund Ratings

Sunday Independent, South Africa  February 1, 1998

 

      Magnum Aggressive Growth Fund, Magnum Fund and Magnum Multi Fund came first, second and fifth in Financial Times International's rankings of the best-performing actively hedged funds during the last three years to November 1.

      The rankings were published in the December issue.

 

      The three funds were similarly ranked in Money Management for the same category to last October, published in the magazine's November issue. None of Magnum's other 17 funds was old enough to qualify for the three-year rankings.

 

      Magnum funds have dominated Money Management's performance list for the past two years in the category. In the November issue, Magnum US Equity ranked first, Magnum Aggressive Growth Fund ranked second, and Magnum Fund ranked fourth. In the one-year rankings, Magnum Global Equity Fund, Magnum Fund and Magnum Aggressive Growth Fund were ranked first to third.

 

      The prevalence of Magnum Funds in the rankings was extraordinary because of the group's strategy of blending hedge funds into funds of funds. The strategy makes consistency of return, rather than magnitude, its primary goal.

 

      "This certainly confirms that our strategy is working," said Dion Friedland, the chairman of Magnum Funds. "Combining an array of different hedge fund strategies into funds of funds allows us to achieve steady long-term returns without the usual volatility associated with equity markets."

 

      Hedge funds use different investment strategies, including hedging against market downturns during times of uncertainty and volatility such as the recent turmoil in international markets.

 

      Funds of funds protect investors against downturns because they spread out the investment risk among a pool of funds that generally are not correlated to each other and to the equity markets.


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