Absolute Return Strategies Presentation
Monthly Analysis: Portfolio Review and Rebalancing
Monthly evaluation of client portfolio performance, exposures and positioning
Portfolio positioning may inform fund rebalancing decisions
Cliffwater tracks each fund's liquidity terms; maintains client portfolio liquidity calendars
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Liquidity impacted by lock-ups, gates, redemption windows, and notice periods
- Available liquidity may impact redemption/rebalancing decisions
Liquidity by Quarter ($ Millions)
300
265
250
200
150
100
63
50
50
0
Jun-17
Sep-17
Dec-17
28
45
19
Mar-18
Jun-18
Sep-18
10
6
Dec-18
Mar-19
Jun-19
Quarter Ending
Sep-19
Dec-19
Mar-20
Jun-20
Liquidity Profile as of Current Month
100%
80%
60%
40%
20%
0%
02 468 10 12 14 16 18 20 22 24 26 28 30 32 34 36
+
The charts shown above are provided for illustrative purposes only. The charts are intended to show examples of Cliffwater's hedge
fund client reporting only.
Number of Months
CLIFFWATER LIC | 36View entire presentation