Sun, Jan 25, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

BGM Select Opportunities Fund shows strong February return +4.28% (+6.22% YTD)

Thursday, March 07, 2013

Bailey McCann, Opalesque New York:

The Bahamas-based Magnum BGM Select Opportunities Fund posted a strong February gross return of +4.28%. "While the portfolio performed nicely across the board, it was the dramatic outperformance of Radian in the month that helped fuel our strong performance in February (Radian’s stock price was up 37% in February)," the fund wrote to investors in a note today about performance.

Radian 2013 senior bonds matured in February, and were redeemed at par. The fund maintained a significant position in these bonds and bolstered much of its monthly return. The fund notes that Radian completed a sizable equity and convertible debt offering this month, and in doing so completely shored up its balance sheet. These success factors have left many shorting the company without much to do to recover. Magnum expects Radian stock price to continue to grow as these funds cover their shorts.

Radian was upgraded from a market perform rating to an outperform rating in a report released on Monday, by Keefe, Bruyette & Woods. Barclays has the company at "overweight," shares have been creeping higher this week on the news.

Following the redemption of the 2013 Radian senior bonds, the fund now has a significant cash......................

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. Commodities - Druckenmiller alums at PointState make $1 billion on oil, Andurand Capital sees oil sliding to $40[more]

    Druckenmiller alums at PointState make $1 billion on oil From Bloomberg.com: Hedge fund manager Zach Schreiber stood on stage at Avery Fisher Hall in New York eight months ago and made a bold prediction. “We believe crude oil is going lower -- much lower,” Schreiber, 42, told the audienc

  2. Investing - David Einhorn discloses a new position in Time Warner, Canyon trimming bets on mortgage bonds after making $7bn[more]

    David Einhorn discloses a new position in Time Warner From FTLeavenworthlamp.com: …Einhorn also disclosed a new position in Time Warner. "Since 2009, TWX has refocused its business into a collection of high quality assets including basic cable networks (Turner and CNN), a movie studio (

  3. Top performing private equity firms you should invest in[more]

    Komfie Manalo, Opalesque Asia: Professor Oliver Gottschalg of Paris-based HEC Business School, also known as Ecole des Hautes Etudes Commerciales de Paris has released his annual ranking of the top performing private equity firms. The 2014 HEC-DowJones Private Equity Performance Ranking

  4. Comment - Why invest in hedge funds if they don't outperform the market?[more]

    From Forbes.com: Hedge funds have always been a bit exotic and an enigma to some, but bottom line they are supposed to produce good returns using a range of strategies including global macro, event driven and relative value (arbitrage). And, sophisticated or high-net-worth individuals (HNWIs) could

  5. Owen Li 'truly sorry' for blowing up $100m of hedge fund’s assets[more]

    From CNBC.com: A hedge fund manager told clients he is "truly sorry" for losing virtually all their money. Owen Li, the founder of Canarsie Capital in New York, said Tuesday he had lost all but $200,000 of the firm's capital—down from the roughly $100 million it ran as of late March. "I take r