WEST PALM BEACH, FL (www.HedgeCo.Net) – Permal Group�s hedge fund portfolios jumped in the past three months according to Bloomberg news. The company says its hedge fund management vehicles benefitedfrom the strong performance of the stock market rally during the past three months. Omar Kodmani, an executive at the money manager said, “The past three months have led to a strong turnaround inperformance.�
Many hedge funds are struggling through a year marked by low volatility and volume which hedge fund managers depend on for trading purposes. A return of volatility in the markets following the end of the US presidential election has enabled some hedge funds to post good results for November.
Kodmani said the group�s hedge fund portfolio gained between 7 and 12 percent so far in 2004. The firm�s best performer, according to him is the emerging market portfolio, which made significant gains since September. The Permal Emerging Markets Holdings NV fund portfolio according to Omar had gained twelve percent since August.
Permal Group is one of the largest fund-of-funds operators in the world; the firm was founded in 1973 by Worms & Cie, and oversees about $18 billion for clients.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
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