By Ken Faulkenberry of Arbor Investment Planner Howard Marks, author of “The Most Important Thing: Uncommon Sense for the Thoughtful Investor”, is the Chairman of the Oaktree Capital Management. Marks was one of the original founders and is famous for his “memos to Oaktree clients” which he uses liberally throughout the book to add […] Read more »
Lyxor Favours Relative Value & Macro For 2016
By Jean-Marc Stenger, CIO for Alternative Investments, Lyxor Asset Management Macro Themes: After navigating between Scylla and Charybdis in 2015 amid growth and deflation scares, 2016 should provide some limited relief. The sturdy, yet aging, expansion in the US should warrant the inception of monetary policy normalization this December. However, all the concerns – […] Read more »
Dull YTD Returns for Most Hedge Fund Strategies – Distressed Funds Lag
From Eurekahedge Hedge funds continued their recovery in Q4 with the Eurekahedge Hedge Fund Index up 0.88%1 in November while the MSCI World Index2 grew by 0.38% during the month. On a year-to-date basis, hedge funds are up 2.58% while underlying markets as represented by the MSCI World have gained 1.78%. November was dominated […] Read more »
Default Rates Rising in US Leveraged Loans & High Yield
From Fitch Ratings, with additional content from Hedge Fund Insight staff A total of $2 billion of loan defaults in November led by Millennium Health LLC pushes the trailing 12-month (TTM) default rate to 1.7% from 1.5% at the end of October, according to Fitch Ratings. Millennium’s $1.8 billion Chapter 11 filing on Nov. […] Read more »
Deutsche AWM Sticks to Strategy Biases – Positive on Equity M-N
By Hedge Fund Insight staff At the beginning of the last quarter Deutsche Asset & Wealth Management’s Hedge Fund Advisory Team advised an overweight in equity market-neutral and an underweight in distressed investing strategies. Both have been good calls in the short period since. Here we catch up with Tim Gascoigne, Head of Liquid Alternatives – […] Read more »
Event Driven Down for Year as Hedge Funds Lose for Third Month
From Eurekahedge Pte of Singapore Hedge funds posted their third consecutive month of losses with the Eurekahedge Hedge Fund Index down 1.75%1in August while the MSCI World Index2lost 6.66% during the month as fears over China’s economic outlook intensified with global equity markets seeing broad based declines. Despite the setback, hedge funds have outperformed […] Read more »
1H Returns for Distressed Investing Mildly Supportive of Oaktree Indicator
By Thomson Reuters/Hedge Fund Insight staff Completed Distressed Debt and Bankruptcy Restructuring activity totaled US$59.9 billion during the first half of 2015, a 44% decrease from the first half of 2014. The number of completed deals also saw a significant decrease, with 109 deals during the first half of 2015 compared to the 165 […] Read more »
Oaktree Capital Indicator For Distressed Investing Turns Positive
By Hedge Fund Insight staff Distressed debt funds had a disappointing year in terms of returns in 2014. According to Evestment distressed funds returned 0.6% last year, and attracted net subscriptions of $9.15bn in 2014. The story is little different this year in terms of returns- Eurekahedge data makes distressed investing the strategy with […] Read more »