Massif Capital, an investment management company, released its “Massif Capital Real Assets Strategy” fourth quarter 2024 investor letter. The strategy returned 0.04% net of fees, with gross of fee gains from the long book of 0.18% and short book returns of 0.03% in the fourth quarter. In 2024 the strategy was up 12.1% net of fees, with gross of fees gains from the long book of 12.1% and short book of 1.0%. The portfolio is up 6.6% as of January 21, 2025. Although the firm is happy with 2024 performance but not satisfied. Overall, it was a strong return on an absolute basis,...
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