Fri, Aug 29, 2014
A A A
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. Study shows what resonates with investors: 'Unwavering', 'passionate' beats 'committed', 'dedicated' and more surprises[more]

    Komfie Manalo, Opalesque Asia: A new study by Pershing Square, a unit of BNY Mellon company, showed that an effective value proposition strengthens audience connections and fosters growth, yet many advisors have had little objective guidance in formulating such statements until now. In the

  2. Institutions – Texas Employees sets 2015 tactical plan for alternatives, CalPERS' real estate consultant cautions the pension fund's investment committee, Why Sunsuper likes hedge funds[more]

    Texas Employees sets 2015 tactical plan for alternatives From PIOnline.com: Texas Employees Retirement System will invest in up to four new hedge funds in the next fiscal year, which begins Sept. 1. Trustees approved 2015 tactical investment plans for the hedge fund, private equity and in

  3. Hedge fund assets decline in July - eVestment[more]

    Bailey McCann, Opalesque New York: Total assets in hedge funds declined in July and dropped 0.49%, marking the industry's second monthly asset decline in 2014, according to the latest asset flows data from eVestment. Despite the asset decline, total industry AUM remained above the $3 trillion

  4. AIMA makes 'the case for hedge funds'[more]

    Bailey McCann, Opalesque New York: The Alternative Investment Management Association (AIMA), the global hedge fund industry body,

  5. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest