SOLANA BEACH, Calif. (HedgeWorld.com)–Sunrise Capital saw its assets grow by US$110 million in the first half of 2002, bringing capital under management in its currencies and futures programs to US$900 million.
Although investor interest has increased for Sunrise programs, most of asset growth has been fueled by solid returns rather than inflows of new capital, said Marty Ehrlich, vice president. “We think this is really the best way you can grow–through profits. Our goal isn’t to be the biggest manager in terms of assts. Our goal is to do a good job providing non-correlated returns to investors and make them money,” Mr. Ehrlich said.
Sunrise has seemingly been doing that in bucket loads so far in 2002. Through the mid-year mark, all of the firm’s currencies and futures strategies were up on the year and some in mild double digits, he said. The S&P 500 and other traditional benchmarks as well as some alternative ones have been slumming by comparison.
Strong trending in currencies, headlined by a precipitous fall in the U.S. dollar, gave both Sunrise’s FX-focused strategies and diversified trading programs the biggest lift. Diversified strategies run by the firm include a combination of currencies, financial futures and commodities.