Tue, Sep 27, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

BHCC offers listed diversification in difficult markets

Wednesday, November 09, 2011

amb
David Warren
by Beverly Chandler, Opalesque London:

The Euro100m ($160m) Brevan Howard Credit Catalysts (BHCC) fund is a listed feeder fund which feeds into the $2.1 bn BHCC Master Fund (BHCC MF) managed by David Warren, whose specialist credit investment manager is New York-based David Warren of DW Investment Management.

The listed feeder fund was set up at the end of 2010 to offer diversification and access to the credit strategy to comparatively smaller investors and investors who can only invest in listed funds. Wealth managers, discretionary managers, smaller institutions and sophisticated high net worth investors feature largely among its investor base.

The main fund, the BHCC MF, has proven non-correlation with a 3% return in 2008 and 14.5% in 2010, a year when it rejoiced in being Brevan Howard's best performing underlying fund.

At its simplest, Charlotte Valeur, chairman of BHCC explains: "The investment manager seeks to profit from inefficiencies in corporate restructurings, for instance, going long or short high yield bonds based on the view that a company's fortunes are going to be better or worse". Research into those predictions and positions are undertaken by a team of specialist analysts who know their target companies very well and look for changes in the fundamentals or the technicals.

For this fund, the investment manager trades across a number of different strategies in the credit markets: mortgage backed securities; distressed c......................

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. Nobel Sustainability Trust, Prince Albert II of Monaco help launch major new initiative to drive sustainable technologies[more]

    Matthias Knab, Opalesque: The Nobel Sustainability® Trust ("NST") is leading a major new initiative to finance, incubate and accelerate the development of clean technologies. The initiative will start with the formation of the Nobel Sustainability Fund® ("NSF"). NSF will drive faster access t

  2. Studies - Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements, Cambridge: Look to private investments for best access to LatAm growth[more]

    Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements A new study of the hedge fund space by industry law firm Seward & Kissel LLP reveals a wealth of information regarding established hedge fund managers’ use of side letters—special agreements

  3. Activist News - Caesars 'optimistic' on deal with hedge fund creditors[more]

    From Reuters.com: Caesars Entertainment Corp said on Monday it remains "optimistic" of reaching a $5 billion deal with the bulk of its creditors to push its main operating unit out of bankruptcy, but one hedge fund bondholder said it will pursue litigation. Caesars offered a sweetened $5 billion set

  4. Hedge funds recover from losses as central banks give markets a respite[more]

    Komfie Manalo, Opalesque Asia: The Lyxor Hedge Fund index was up 0.4% from the week ending September 20 (-2.4% YTD), supported by the willingness of central banks to remain accommodative, Lyxor Asset Management said in its weekly briefing. It ad

  5. Perry Capital closing flagship fund after almost three decades[more]

    From Blooomberg.com: Richard Perry, one of the biggest names in hedge funds, is calling it quits after 28 years. Perry, 61, is winding down his New York-based flagship fund as the industry confronts one of the most tumultuous periods in its history. In a letter to investors Monday, he said his style