Investment Overview
Strategy Description
Kstone High Income Muni Fund LP targets returns of 7% to 12% by seeking to exploit inefficiencies/mispricings in the $3.9 trillion muni market. The targeted annualized standard deviation is 2% to 5%. Kstone strives to build a concentrated portfolio of hedge fund managers with proven track records of generating attractive risk-adjusted returns. These portfolio managers invest in investment grade securities, but they may also invest in high yield munis, corporate, sovereign, and other debt securities.