Prospero's long/short Beaumont Fund was formed by aggregating three of our previously distinct funds: Antenor, which deployed a long-only strategy; the original Beaumont, which comprised both long and short positions; and Curan, which was market-neutral. Through the combination of each of these funds, we are now able to draw upon the most beneficial aspects of each. This affords us the enhanced dexterity necessary to appropriately balance risk and return under various market conditions.

Beaumont
StyleLong/short
StrategyAll-cap
Relative-value
InceptionJuly 2002
Target return
Target risk
(Standard deviation)		Return: 11–13%
Risk: 7–9%
AntenorBeaumontCuran
StyleLong-onlyLong/shortMarket-neutral
StrategyAll-cap
Relative-value		All-cap
Relative-value		All-cap
Relative-value
InceptionJanuary, 1997July, 2002January, 2002
Typical market exposureLong: 100%
Short: 0%
100% net long		Long: 100%
Short: 50%
50% net long		Long 100%
Short: 100%
0% net exposure
Target return
Target risk
(Standard deviation)		Return 13–15%
Risk: < S&P 500		Return: 11–13%
Risk: 7–9%		Return: 9–11%
Risk: 5–7%
Similar longs across all three funds
Similar shorts across Beaumont and Curan



1997–2009 Cumulative Returns
(net of all fees and expenses)		 2000–2009 Cumulative Returns
(net of all fees and expenses)
The above returns include Prospero's Antenor Fund through 2004.