MANDA Portfolio update & closing notes

The acquisition of MANDA holding Harvest Energy Trust (HTE) by the Korean National Oil Company was completed as planned on 12/22/09 at the offering price of $10 per unit. I wasn’t able to participate in the last dividend payout as I purchased the shares later than the record date. However, the trade netted over 7% even without the dividend.

MANDA Holdings 12-30-09

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Since inception, the portfolio has returned 6% with a win/loss ratio of 86%.

Portfolio Note: No new additions will be made to this portfolio and current open positions will be held until the close of their mergers. I’m closing this fund because I feel that it has served its purpose of providing a low-risk, positive return considering the disastrous financial climate of the past year and a half. But as one door (or fund) closes, another one opens, and I’m looking forward to opening a new portfolio commensurate with the current market climate.

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