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He invested in the Bear Stearns fund in October 2005, and he said the fund appealed to him because its returns of about 1percentt a month did not seem to fall into the too-good-to-be-true category.
The bank's return on equity, a key metric of shareholder return, fell to 6.1percentt in the latest quarter, half of the level just three months ago and far below its returns of more than 30percentt during the boom years of 2006 and 2007.
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It has been rough sledding for the fund recently, and its return of -16% since inception seems nothing to brag about, except that a passive investment in the S&P 500 is off 35% over the same period.
In the first quarter, its return of 1percentt was below the category average of 1.3percentt.
"In 2017, consistent with its return of other outside capital, Alden began winding down its management of these pension plan assets, making regular cash distributions to the MNG pension plan investors," he said.
Its return of capital is a handsome 18%, way above industry average.
The top fund managers as tracked by Marketocracy outperformed the S&P 500 last week, tripling its return of 1.2%, with a total return of 3.6%.
However, the small-cap index continues to be the leader on a year-to-date basis, with its return of roughly 3.3% vs. the SPX's return of 1.8% and the Nasdaq Composite's (COMP) gain of 2.3%.
In a very strong market, it might fail to gain as much as the market, such as in 2003, when its return of 22.9% was only two-thirds the market's.
Organic farming may not lead to higher production and income in the short run as its returns are of long term nature.
In 2018, Macau will celebrate the 20th anniversary of its return to China.
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