Today we wanted to focus on the Kensington Private Equity strategy within our portfolios, as they released a 9% cash distribution which reflects the continuing strong performance of the Kensington Private Equity Fund.

What clients are going to see on their statements is that cash came into the account, while at the same time the Net Asset Value of the position decreased.  This position on a Year to date basis is currently up over 15% while providing our clients with a low correlation with equity markets.