Wed, Mar 21, 2018
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

LNG's credit fund up 32.4% YTD, managers believe high yield bonds will continue to be attractive asset class over medium and long-run

Wednesday, July 29, 2009

From the Opalesque Team:

London-based LNG Capital reported that the LNG Zenith High Yield Bond fund had returned 2.36% (€A) and 1.33% (€B) in June and 32.4% (€A) YTD (34.90% since LNG began managing the fund in November-08). On a risk-adjusted basis, the fund continues to produce equity-like capital returns with less downside risk than equity or the benchmark while generating generous current income.

The Zenith Fund is specialized in the high yield debt markets for corporate loans, bonds and credit default swaps. The fund invests in a well diversified bond and loan portfolio and aims to provide attractive investor returns through a low volatility strategy.

Alex Vaskevitch, Portfolio Manager/Partner at LNG Capital said in the fund's latest report that he had reduced the level of systematic risk in the book by restructuring the portfolio: "The end result was an increase in average ratings quality from B to BB and a slight decrease in the average maturity profile. We also increased our market hedge on the portfolio leaving us with a slightly net long position."

"We believe that this portfolio will allow us to extract attractive risk adjusted returns over the next couple months as the market trades sideways to down and traders anticipate a "W-shaped" recovery," he continued. "Don't misunderstand; while we have a negative short-term view, we believe high yield bonds will continue to be an attractive asset class over the m......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. John Paulson, once the industry's largest hedge fund, to return some investors' money[more]

    Komfie Manalo, Opalesque Asia: John Paulson is reported to be retuning some of his investors' money as a number of his hedge funds continue to suffer setbacks, reports

  2. DoubleLine's Gundlach sees U.S. 10-year Treasury yield rising, weighing on stocks[more]

    From Reuters/ Jeffrey Gundlach, the chief executive of DoubleLine Capital and known on Wall Street as the "Bond King," said on Tuesday the yield on the U.S. 10-year Treasury note will likely move higher and pressure riskier assets including equities and junk bonds. Gundlach, on an

  3. SEC charges Theranos CEO Holmes with fraud[more]

    Bailey McCann, Opalesque New York: The SEC has charged Elizabeth Holmes, founder and CEO of Theranos and its former President Ramesh "Sunny" Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about t

  4. Institutional Investors - Overdrawn pension fund scores gains[more]

    From Investments in big banks, pawn shops and rolling papers helped boost public safety workers' underfunded pensions this past calendar years, according to newly released figures. After recording middling returns in recent years, the Police & Fire Pension Fund (P&F) notched

  5. Hot hedge fund loses 21% after bet on volatility goes wrong[more]

    From In December, Shahraab Ahmad shared with his hedge fund clients the principle that helped him trounce peers for two turbulent decades: steer clear of the crowd. He'd turned $50 million into an operation with more than $700 million over three years and delivered market-beating retu