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NEWPORT BEACH, California (April 1, 2005) - While the markets experienced a rough first quarter in 2005, with the S&P declining (2.2)% and the Nasdaq down (8.0)%, the Funds performed well on a risk-adjusted basis, with Antenor declining only (0.7)%, Beaumont (0.3)%, and Curan producing positive returns of 0.8%. Since Antenor has full market exposure, Beaumont hedges by 30-50%, and Curan is market-neutral, these results clearly illustrate the beneficial impact of Prospero's hedging strategy in protecting principle during market declines. Furthermore, Prospero’s long-term record continues to shine, as our 5-year net results for Antenor are now more than 10.5% per annum ahead of the S&P 500 Index for the 5-year period ending 3/31/05.
Annualized net returns (-3/31/05):
| Antenor | S&P 500 | Beaumont | Curan | |
| Mar '05 | (1.4%) | (1.8%) | (1.7%) | (0.9%) |
| YTD | (0.7%) | (2.2%) | (0.3%) | 0.8% |
| 3-year | 4.6% | 2.7% | ||
| 5-year | 7.3% | (3.2)% | ||
| Inception (1997) | 13.3% | 7.4% |
Given Prospero's consistently strong track record, please consider the following facts when evaluating your portfolio allocation:
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Prospero has produced positive, double-digit net annual returns of more
than 13% for its investors since inception in 1997.
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Prospero has generated a positive 42% net return for its investors
during the last five years, during which time the S&P 500 Index
has declined by a cumulative (15)%.
Prospero Capital Management is an investment advisory company delivering superior financial results and service to clients through detailed fundamental research and investment insight. Contact Prospero at 866.377.7677 or invest@prosperofunds.com for more information.