ETF.com – The sell-off of momentum stocks in the first quarter as well as rising tensions in Ukraine were recipes for a volatile start to 2014 that caught retail investors and the smart-money crowd, including hedge funds, off guard. However, one hedge-fund-of-funds manager, who also manages a mutual fund using ETFs, emerged out of the first-quarter turmoil on the right side of the S&P 500 Index.
In fact, Mark Yusko, chief investment officer of Chapel Hill, N.C.-based Morgan Creek Capital Management, said his Global Equity Long/Short fund of funds topped 3 percent in the first quarter, and his topped 5 percent. In all, Yusko’s Morgan Creek manages about $6.5 billion in assets.
