2018 August CAD

2018 July CAD

Dear Partners, We are pleased to report a 2.50% net return for the Caravel Capital Fund Ltd Ltd. As we mentioned in our two most recent Partners letters, we anticipated the consummation of a large risk arbitrage position the fund held. The merger as predicted closed in late July, which resulted in the Fund recouping […]

2018 June CAD

Dear Partners, For the month of June the Caravel Cad Fund Net Asset Value lost 1.07%. For Caravel Capital the past two months have been an exhausting seminar in the Alchemy of Securities Markets. What we have learned is now incorporated into Caravel Capital’s investment management modus operandi. We would like to share this with […]

2018 May CAD

2018 April CAD

Dear Partners, The Caravel Funds continued to carry a large cash position through the month of April in spite of our efforts to find new opportunities. A big reason for this is the perception of risk in the market. As market sentiment ebbs between fear and greed the rate of return on stocks change. When […]

2018 March CAD

Dear Partners, March was a constant bombardment of nonsense from the Commander and chief of the largest economy in the world. We often highlight the fund seeks to be market neutral in our approach however a lot of this risk is virtually impossible to hedge. In our Arbitrage book, we took the initiative to sell […]

2018 February CAD

Dear Partners, The indices above underscore just how well the Caravel Capital Fund Ltd performed during the month of February. As mentioned in our January letter, we were well positioned to profit from the drop in the markets over the past 40 days. When the opportunity to unwind our bearish and contrarian strategies arose, we […]

2018 January CAD

Dear Partners, In light of the volatile markets, we respectfully provide you a monthly Partners letter in point form. We started to write a cohesive and informative overview for January, however the global markets have completely changed the narrative. So in the interest of relieving possible anxiety regarding your investment in the Caravel funds, we […]