Tue, Apr 24, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Bernheim, Dreyfus & Co’s merger arbitrage strategy up 3.7% in 2012

Thursday, January 10, 2013

amb
Amit Shabi
Benedicte Gravrand, Opalesque Geneva: - Paris-based alternative asset manager Bernheim, Dreyfus & Co. confirmed its merger arbitrage strategy, the Diva Synergy Fund, had returned +3.55% (€ class) and +3.74% ($ class) net to investors in 2012, bringing returns since inception to +27.04% and +35.74% respectively. Over the past three years, the fund’s compounded annual returns are +8.90% (€ class) and +8.46% ($ class).

The HFRX Merger Arbitrage Index returned 0.95% in 2012, after returning -2% in 2011, 5.6% in 2010 and 8.1% in 2009. It is currently up 0.21% YTD.

Global mergers and acquisitions rose to the highest level in four years at the end of last year as companies worldwide announced $692bn in purchases, the asset manager said in a release. Bernheim Dreyfus believes that the pickup in takeovers will extend into next year as American and European lawmakers take more decisive steps to fortify the global economic recovery. The asset manager also expects the cloud-computing and network-security sectors, the pharmaceutical industry and the energy space to be very active in the M&A space.

Amit Shabi, cofounder of Bernheim, Dreyfus & Co. and co-manager of the Diva Synergy Fund said: "In a difficult year for merger arbitrage and quiet M&A activity, we are happy with the Fund’s positive returns and very confident for the ......................

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 - Sequoia takes Facebook stake as shares slide in data controversy, $1.4b hedge fund sees intact fundamentals for Facebook, Jim Cramer reveals some 'suggested hedge fund trades' amid the Trump tariffs[more]

    Sequoia takes Facebook stake as shares slide in data controversy From Bloomberg.com: The $4.2 billion Sequoia Fund bought a small position in Facebook Inc. as the stock slid late in the first quarter, investment manager Ruane, Cunniff & Goldfarb told clients. "The recent controversy enab

  2. Activist Investors - Blue Sky-owned Wild Breads faces uncertain future[more]

    From AFR.com: A Blue Sky private equity investment in artisan-style baker Wild Breads enjoyed multiple valuation upgrades despite losing millions and breaching its lending covenants, accounts lodged with the regulator last week show. Wild Breads lost $2.4 million in 2017, but Blue Sky ascribed a hig

  3. Opalesque Exclusive: Barnegat to close hedge fund to outside investors on weak opportunities[more]

    Komfie Manalo, Opalesque Asia: Bob Treue's Barnegat Fund Management said it is closing its $666m fixed income relative value hedge fund to outside investors. "The negative side to gains in Fixed Income Arbitrage is that unless we find new opportunit

  4. Investing - Hedge fund makes a big bet on malls, British hedge fund manager Odey short UK government bonds on QE bet[more]

    Hedge fund makes a big bet on malls From Barrons.com: The dominant narrative on American shopping malls is that they're dead. Crushed by Amazon.com, many brick-and-mortar retail stores are destined for bankruptcy. And where is the most retail, clustered all together? Malls. From a

  5. Performance - Hedge funds suffer first back-to-back loss in two years, Netflix performance burns hedge fund short sellers, Macro hedge fund up 14.5% in first quarter sees dollar falling, Renaissance Technologies rebounds across hedge funds in March[more]

    Hedge funds suffer first back-to-back loss in two years From Bloomberg.com: Hedge Fund returns sank for a second straight month in March, the first back-to-back loss since the first two months of 2016, as trade wars, tech-sector woes and a Fed rate hike dragged down the S&P 500 from its