2024-03-12 10:21:28 ET
Summary
- The AGF U.S. market Neutral Anti-Beta Fund has historically provided diversification benefits by performing well when the broader equity market is down.
- Despite its expected flat-to-negative annual return, BTAL has rallied in 2024, potentially due to investors seeking defensive low-beta stocks.
- Owning BTAL as part of a portfolio can (and likely will, in my opinion) provide superior risk-adjusted returns over the long term.
Those who follow me know that I am a rare appreciator of the AGF U.S. Market Neutral Anti-Beta Fund ( BTAL ), a long-short strategy that has produced a cumulative loss of nearly 20% since its 2011 inception — see chart below, purple line. As I will explain in more detail shortly, the appeal of this fund is not its ability to produce profits as a stand-alone holding, but its diversification capabilities instead....
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For further details see:
BTAL Anti-Beta Fund: Still A Great Diversifier