Vancouver, Canada (PRWEB) January 30, 2008
Mondiale Asset Management Ltd. has elected to temporarily discontinue trading operations and return approximately USD 500 million of capital to its institutional investor base, including resigning as Trading Advisor to the Horizons Mondiale Fund.
Although the magnitude of losses in recent months were well within general expectations, they were not consistent with the firm's high standards and expectations for these strategies in this market environment. Given this, the Mondiale management team determined that it was its fiduciary responsibility and in the best interest of its clients to cease trading at this time.
After a period of focused R&D, Mondiale expects to re-launch its trading operations later this year and will once again begin accepting investor capital. Initial investor feedback to these plans has been decidedly positive.
Mondiale, a portfolio manager and CTA, has provided specialized alternative investment advisory services to an array of international institutional clients for over 10 years. From its inception in September 1997, the Mondiale Trading Program has achieved net annualized returns of 8.6% with an annualized monthly standard deviation of only 6.9% and a maximum drawdown of 7.9%.
Vincent Grdina, President
Mondiale Asset Management Ltd.