Cantab Capital Partners' Ewan Kirk has not enjoyed the dog days.
Aristarchus performed well in 2011, with returns of 12.8%, and again in 2012, with 15.3%. But in the eight months to August 31, it has lost 27.7%, following declines of 8.4% in May, 14.2% in June, 4.3% in July and 6.8% in August, investors said.
Cantab chief investment officer Ewan Kirk, former head of Goldman Sachs Strategies Group in Europe who set up the firm in 2006 with ex-Goldman technology chief Erich Schlaikjer, said: “I’ve had better summers….”
Kirk said: “This summer’s performance would rank as an unusual event. We continue to invest in research to improve returns.” He said Aristarchus had a volatility target of 20%, twice as high as some of its peers. Cantab’s Mersenne macro fund, which targets 10% volatility, has lost 7% this year.