Fri, Dec 9, 2016
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. Institutions - Texas County & District culls 5 hedge funds, reallocates to existing managers, Kentucky board gives final approval to halve hedge fund portfolio, $38bn Finnish fund moves assets to U.S. as Europe flounders, South Korea’s National Pension Fund holds 5% stake in 62 listed companies[more]

    Texas County & District culls 5 hedge funds, reallocates to existing managers Texas County & District Retirement System, Austin, continues to reduce the number of hedge funds, but not the size of its $6.2 billion hedge fund portfolio. It will redeem a total of $760 million from five hedg

  2. Opalesque Roundtable: Australian family offices search for good risk adjusted returns, happy to pay for skill[more]

    Komfie Manalo, Opalesque Asia: Australian family offices want foremost good risk adjusted returns, and they are happy to pay for the skill, and in some cases, the limited capacity of an active manager. Jonas Daly, Head of Distribution at B

  3. StepStone announces close of Swiss Capital acquisition[more]

    StepStone Group LP announced it has successfully closed the acquisition of Swiss Capital Alternative Investments AG, one of the leading private debt and hedge fund solutions providers in Europe. The transaction was originally announced in May 2016, and has been in the process of receiving regulatory

  4. Investing - Stephen Cohen investing $275m in free clinics treating veterans' mental health issues, California Resources loses favor with hedge funds[more]

    Stephen Cohen investing $275m in free clinics treating veterans' mental health issues From Healthcarefinancenews.com: …Now, a new chain of free mental health clinics for vets has opened in five cities across the United States to fill the gap. The much-needed new treatment is underwritten

  5. Hedge funds flat in last week of November 'in sympathy with markets’[more]

    Komfie Manalo, Opalesque Asia: Hedge funds were close to flat in the last week of November in sympathy with markets, which took a pause ahead of the OPEC meeting and Italian referendum. The Lyxor Hedge Fund Index was -0.1% as of end November 29 (-1.7% YTD), according to the latest