Thu, May 28, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

High octane Chenavari continues to perform despite difficult month

Tuesday, June 19, 2012

Beverly Chandler, Opalesque London: May results for the range of funds from Chenavari Investment Managers showed a net performance of 1.11% in May for the European ABS Strategy, bringing the year to date figure to 10.56%. The annualized return of the European ABS strategy (Toro Capital IA - A Share class), which focuses on European asset backed securities is 67.33% pa since inception in June 2009, a year in which it achieved a return of 80.12% in six months.

In an interview with Opalesque TV, Loic Fery, founder and managing partner, detailed the high octane performance of the firm, founded in 2008 and with assets close to $2bn.

In their commentary on the fund, Chenavari reported that uncertainty about the Greek political situation coupled with raising concerns over Spanish banks and sudden deterioration of the global growth outlook eventually unwound the rally initiated in the first quarter. "Hence, peripheral bond yields surged as the Spanish-German 10yr spread widened to 535bp while Eurostoxx 50 closed the month 8.85% lower. Whereas eurozone break-up fears appear somewhat overstated, the trajectory of recent data indicates a longer and deeper recession in Europe exacerbated by a waning global growth and major tail risk derived from potential political blunder. Despite such uncertainty, European primary ABS issuance continued to benefit from a strong real money demand with four ......................

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. Opalesque Exclusive: SEC approves proposed changes to Form ADV, '40 Act - comment period to follow[more]

    Bailey McCann, Opalesque New York: Hedge funds and providers of liquid alternatives will want to pay close attention to proposed reforms approved by the SEC yesterday. The changes will require more frequent reporting, as well as a closer look into social media, liquid alternative strategies, and

  2. Investing - Hedge funds buy swathes of foreclosed subprimes, force up rents, float rent-bonds, Hedge funds buy Actavis, Valeant. ETFs join the party, The most loved biotechs of big hedge funds, Stocks to buy ... according to hedge funds, Atlantic City bond offering attracts hedge funds as buyers, Okumus Fund Management discloses huge new Ascent Capital Group stake[more]

    Hedge funds buy swathes of foreclosed subprimes, force up rents, float rent-bonds From Boingboing.com: When a giant hedge fund is bidding on all the foreclosed houses in a poor neighborhood, living humans don't stand a chance -- but that's OK, because rapacious investors make great landl

  3. Institutions - Institutional investors turn to real estate, planes, Assets at Bostonís five biggest family nonprofits rise to $3.5bn[more]

    Institutional investors turn to real estate, planes From Joins.com: The National Pension Service and domestic emerging market specialists who did not know where to invest in a low interest rate environment are turning to other investments like the blue-chip real estate market abroad.

  4. Opalesque Exclusive: BMO launches multi-strat '40 act fund[more]

    Bailey McCann, Opalesque New York: As we reach new market highs, investors are looking for a way to diversify and protect their portfolios from a potential market correction. Liquid alternatives are rapidly gaining ground as a critical tool for investors to use to mitigate downside risk. The BMO

  5. All hedge fund strategies rebounded last week as market conditions normalize[more]

    Komfie Manalo, Opalesque Asia: After a difficult start this month, all hedge fund strategies ended last week in positive territory, as the Lyxor Hedge Fund Index gained 0.9% (-0.2% MTD, 3.3% YTD). According to Lyxor AMís latest Weekly Briefing, in t

 

banner