Mon, Sep 22, 2014
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. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Institutions - Adviser's faith in hedge funds unshaken by CalPERS' move Advisers weigh in on CalPERS’ decision, Gina Raimondo sees no reason to follow California’s lead, exit hedge funds, Danish pension funds step up 'alternative investments'[more]

    Adviser's faith in hedge funds unshaken by CalPERS' move From WSJ.com: Financial advisers who use hedge funds in their clients' portfolios say they aren't rethinking that approach after a huge California pension fund announced plans to exit the hedge-fund market. The decision by the Cali