Sat, Oct 10, 2015
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

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. U.S. hedge funds prepare for worst finish this year since 2008[more]

    Komfie Manalo, Opalesque Asia: U.S.-focused hedge funds are preparing for their worst year since the 2008 global financial crisis, following a series of letdown including the market sell-off in August and the sell-off in healthcare and biotechnology sectors last month, reported

  2. Investing - AQR Capital and Renaissance Technologies raise stakes in Southwest Airlines[more]

    From In the previous part of this series, we saw how institutional investors played Southwest Airlines (LUV) in 2Q15. Now let’s move on to the trades executed by key hedge funds in Southwest Airlines over the same period. … Most of the hedge funds that had significant exposu

  3. Manager Profile - Pimco alternative funds flourish as 30-year bond rally fades[more]

    From Inside Pacific Investment Management Co., the bond behemoth that lost two chief investment officers last year and saw almost $500 billion of client money leave, a hidden profit engine is easing some of the pain. For more than a decade, Newport Beach, California-based Pimco has qu

  4. Niche Investing - Art investment funds: Attracting institutional and other new investors[more]

    From The Deloitte/ArtTactic Art and Finance Report 2014 (the "Art and Finance Report") noted that the "global art investment fund market was estimated to be worth at least $1.26 billion in the first half of 2014." This seems almost inconsequential when juxtaposed with the $54 billion of

  5. DoubleLine’s Jeffrey Gundlach warns of another round of market shakedown[more]

    Komfie Manalo, Opalesque Asia: DoubleLine Capital co-founder Jeffrey Gundlach is painting a bleak future as he warned that the U.S. equity market and other risk markets, such as high-yield "junk" bonds, are facing another round of selling pressure. Gundlach said in an interview with