Giano Capital Adds Cyclical Stocks A “Barometer” Shows Rising Inflation

Giano Capital returned 1.9% in August, taking the fund’s year-to-date performance to 2.2%. Since its inception, Giano’s flagship fund has returned 8.6% annualized, that’s according to a copy of the firm’s August update, which ValueWalk has been able to review. Q2 2021 hedge fund letters, conferences and more Giano presents its returns going back to 1996, when the fund was first founded as part of Odey Investment Management. Today it is directed by Michele Ragazzi, who previously managed the long/short Odey Giano European fund. Before that, he was a partner and portfolio manager at Newman Ragazzi Partners, a company he…