Wed, Jun 29, 2016
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. Blackstone buys minority stake in New York-based credit hedge fund Marathon[more]

    Benedicte Gravrand, Opalesque Geneva: Blackstone Strategic Capital Holdings Fund, a vehicle managed by Blackstone Alternative Asset Management (BAAM), has acquired a passive, minority interest in Marathon Asset Management, for an undisclosed sum. Based in New York,

  2. Investing - Soros, Druckenmiller among hedgies profiting in market plunge, Hedge funds were most bullish on bonds since 2004 before Brexit, Surprise Brexit vote unleashes scramble for dollars, High-yield hit on Brexit but no panic selling, Scientist turned hedge fund founder lured to pound, euro, Hedge fund avoids commodities, posts big gains[more]

    Soros, Druckenmiller among hedgies profiting in market plunge From HITC.com: Bullish positions in gold and volatility and well-timed short bets on China and emerging markets, among other areas, were some of the trades that benefited hedge funds on Friday as markets digested Britons' s

  3. Manager Profile - A 26-year old hedge fund manager called Brexit — here's what he thinks about the historic vote[more]

    From Businessinsider.com: Taylor Mann is not your typical fund manager. The twenty-six year old Texas A&M graduate manages Pine Capital in Larue, Texas (population 160), where he resides with his three-year old daughter. Also atypical compared with many of the largest funds out there, Mann makes

  4. Visium hedge fund manager Sanjay Valvani found dead[more]

    Benedicte Gravrand, Opalesque London: A hedge fund manager connected with an insider trading case has apparently committed suicide. Sanjay Valvani, 44, a hedge fund manager at New York-based Visium Asset Management, was found dead in an apparent suicide on 21 June in his Brooklyn residence,

  5. People - Mariner Investment’s co-CIO Williams to leave $5.5bn firm, IOOF hires new alternatives portfolio manager[more]

    Mariner Investment’s co-CIO Williams to leave $5.5bn firm From Bloomberg.com: Basil Williams, co-chief investment officer of Mariner Investment Group, is leaving the $5.5 billion hedge-fund firm after negotiations to renew his contract failed. Williams will stay in his role until t