Avenir Global Fund 4Q20 Commentary
Avenir Global Fund commentary for the fourth quarter ended December 30, 2020. [soros] Q4 2020 hedge fund letters, conferences and more Dear Partner The Avenir Global Fund (the “Fund”) generated a return of 13.9% for the December 2020 quarter, more than double the 6.5% return for the MSCI ACWI index (AUD). This brings the past 1-year return to –3.3% (net) (1) behind the 5.9% return delivered by the MSCI ACWI index (AUD). Over the past year, the strength of the Australian dollar cost the Fund 6.4% turning a 3.1% underlying gain into the -3.3% return. Since inception of the Fund over nine years a...