Fri, Apr 29, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Galloway Global Emerging Markets FI Fund marks 3 year anniversary, up +8.35% year-to-date

Wednesday, May 16, 2012

Bailey McCann, Opalesque New York: Galloway Capital is a global Emerging Markets asset management company focused on active Fixed Income High Yield strategies. The firm announced today that its Global Emerging Markets FI Fund was up +8.35% year-to-date. The fund has a cumulative return of 46.50%, and an average annual return of 13.57%.

According to an investor letter obtained by Opalesque, the Fund has an Yield To Worst of 11.97%, a Duration of 3.76 years and is aiming to lower the Beta of the portfolio opportunistically with an average credit rating of "BB-" and is also focusing on bonds that should recover first from the current market situation. The fund notes that it recently liquidated its position in Banco BMG, following actions by the Brazilian government to reduce real interest rates., Authors write that the fund foresees a "hard road ahead, particularly for medium sized banks, as they adapt their business to the new Brazilian banking reality."

The fund also sold out of its position in Brazil-based Vigor, a JBS (the global meat processing conglomerate) subsidiary, as JBS prepares to list its dairy arm citing weaker credit for the entity as a standalone venture. The fund expects activity in Brazil to remain on the radar screen through the rest of this year.

The fund notes that the Brazilian government, "has a bazooka to stimulate the economy by driving real rates from 400+bps to around 200bps." This actio......................

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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Performance - Blackstone profits plunge 77% as performance fees dive, Hedge fund stars' fortunes hostage to market swings, Hedge fund manager goes from billionaire to millionaire in profits plunge, Hedge funds biggest losers in SunEdison's 'magic money machine'[more]

    Blackstone profits plunge 77% as performance fees dive From FT.com: Blackstone, the world’s biggest manager of alternative investments from private equity to real estate, suffered from sharply lower performance fees amid turbulent markets in the first three months of the year, even as it

  3. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  4. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  5. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the