MacNicol’s The Alternative Asset Trust Quarterly Commentary- October 2022
The MacNicol Alternative Asset Trust is a multi-strategy, alternative investment platform designed to generate returns that are positive and uncorrelated with public stock or bond markets. The Trust, through its underlying limited partnerships invests in real estate, private equity, and hedge funds. In total the Alternative Trust is invested in more than 150 separate real estate projects, private businesses, and hedge funds. The advantages of our approach to alternative assets include effective diversification, enhanced liquidity and a less volatile return profile compared to the individual asset classes themselves.
Alternative Trust Update: The goals of the Alternative Trust are to generate attractive risk-adjusted returns and help alleviate investor reliance on public market investments. During the 3rd quarter of 2022 the Trust was higher by approximately 3.5% in an environment that continues to grapple with geopolitical risk, high inflation, tightening monetary policy and fiscal policy mistakes in parts of Europe. The Trust’s positive third quarter result helped bring the 2022 year-to-date performance to 4.7% with the annualized rate since inception at 10.4%. As always, the performance figures referenced in this commentary account for any fees an investor in the Trust would pay and therefore do not require additional adjustment.
Third Quarter 2022 Highlights:
As previously mentioned, the third quarter of 2022 was defined by many of the same investment themes that dominated the second quarter, but with the added complication of a widening gap between domestic investment opportunities in North America and those of Europe and Asia. Since we now hold both Canadian and US registration, domestic investors include our large base of Canadian clients and new investors in the United States.
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