Wed, Feb 22, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Another distressed debt hedge fund does well: Zencap Octra +15% YTD

Thursday, October 11, 2012

Benedicte Gravrand, Opalesque Geneva:

The Octra Fund, a fixed income arbitrage fund managed by Zencap Asset Management, tries to generate alpha from the dislocation of the European ABS and CDO market through a selection of fundamentally healthy assets. The selection must have been right, as the fund returned 2.40% in September and it is up 15% YTD, annualising 10.8% since its April-10 inception. The Zencap Octra Fund features in Opalesque’s ASquare database.

Zencap Asset Management is a Paris-based European distressed debt specialist fund house launched in 2009; it runs four funds (the oldest fund being up 30% YTD) and Eur360m in total; it is a majority-owned subsidiary of OFI, a large French fund management group.

The summer rally lost steam at the end of September, says the monthly fund report, and European fundamentals are still deteriorating, now spreading to core EU countries, leaving odds open in the battle between liquidity and solvency. The reports quotes potential landmines, such as Spain’s aid request, the European banking union, Greece and social unrest. There may be more liquidity in the coming months, but one should still be careful, the report notes.

ABS proved resilient but "activity is slowing down and offers often remains unchanged wh......................

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. People - Kuwait wealth fund head Al Saad said to step down after 14 years[more]

    From Bloomberg.com: Kuwait Investment Authority is set to name Farouk Bastaki as managing director, replacing Bader Al Saad who ran the world's fifth-largest sovereign wealth fund for 14 years, a person familiar with the matter said. The KIA, as the fund is known, is finalizing the appointment, said

  2. Manager Profile - Eddie Lampert: a painful entanglement with Sears[more]

    From Moneyweek.com: "In the long run we are all dead." Lex in the Financial Times reached for the famous quote from John Maynard Keynes in January when, after a long and unforgiving decline, the clock finally appeared to be running out on Sears, the iconic US department store group. Yet the group's

  3. Investing - Hedge funds quit Aberdeen shorts as shares begin to recover, Hedge funds' next big short: U.S. malls, O'Connor fund owns 9.5% of Protalix Biotherapeutics, U.S. hedge fund takes position in Macau hotel The 13[more]

    Hedge funds quit Aberdeen shorts as shares begin to recover From Investmentweek.co.uk: The last two hedge funds to short Aberdeen Asset Management have removed their positions, as the fund group's shares begin to show signs of recovery after a difficult few years. According to the Financ

  4. Latin America, high yields and Asia Pacific strategies dominate hedge fund returns in January[more]

    Komfie Manalo, Opalesque Asia: Latin America (+7.04%), high yield (5.63%), and Asia-Pacific (+5.06%) strategies dominated hedge fund performance in January, data provider Hennesee Fund Research said. The bottom three strategies for the mont

  5. Investing - Hedge funds loading up on this dividend stock, The biggest hedge funds have been piling into bank stocks[more]

    Hedge funds loading up on this dividend stock From Incomeinvestors.com: Hedge funds are backing up the truck on Cameco Corp stock. Billionaire Jim Simons owns 389,000 shares. Other Wall Street titans - including Ray Dalio, Ken Griffin, and Chuck Royce - have been quietly building positio