Tue, Sep 1, 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. Investing - Hedge funds suddenly find real money is back in Argentina's debt, Elon Musk buys more SolarCity stock following hedge fund manager short, BlackRock plans to get into rental-home financing[more]

    Hedge funds suddenly find real money is back in Argentina's debt From Bloomberg.com: The real money is back in Argentina. Before the country’s default in July 2014 (its second in 13 years), most long-term investors abandoned its bond market. As they rushed out, Argentina became a favorit

  2. Activist News - Carl Icahn has snapped up a huge stake in Freeport-McMoRan, and the stock is ripping, Meet Europe's best activist investor[more]

    Carl Icahn has snapped up a huge stake in Freeport-McMoRan, and the stock is ripping From Businessinsider.com: Carl Icahn has picked his next target: Freeport-McMoRan. Icahn and a group of other investors have snapped up an 8.46% stake in mining company Freeport-McMoRan, according to a j

  3. North America - Hedge fund manager Ray Dalio’s challenge to the Fed[more]

    From Newyorker.com: For some reason, Janet Yellen, the chair of the Federal Reserve, decided to skip this year’s annual Fed conference in Jackson Hole, where monetary policymakers from the United States and abroad get together with some prominent academics to discuss the big issues of the moment. Th

  4. Opalesque Exclusive: Credit-focused hedge fund Numen Capital expects more volatility in Europe in coming months[more]

    Benedicte Gravrand, Opalesque Geneva: A London-based hedge fund, which has just hired two emerging managers, is cautious on Europe. Vassilis Paschopoulos and former Lehman’s colleague Nikos Kargadouris, launched a London-based credit-focused hedge fund called

  5. Performance - Hedge funds bruised by stocks’ meltdown, Capstone’s volatility hedge fund is having a monster month thanks to market mayhem[more]

    Hedge funds bruised by stocks’ meltdown From WSJ.com: Hedge-fund managers like to promise their investors protection from market swings. In the recent stock swoon, many were caught off guard. Billionaire managers such as Leon Cooperman, Raymond Dalio and Daniel Loeb are deeply in the red

 

banner