Meridian Funds, managed by ArrowMark Partners, released its “Meridian Hedged Equity Fund” second quarter 2024 investor letter. A copy of the letter can be downloaded here. In the quarter, the fund appreciated 0.92% (net), trailing its benchmark, the S&P 500 Index, which returned 4.28%. Also, the Fund lagged behind its secondary benchmark, the CBOE S&P 500 Buy/Write Index’s 1.49% return. The firm's approach puts controlling negative risks ahead of pursuing excessive profits. It anticipates that capital preservation in bear markets will eventually play a significant role in the...
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