Fri, May 25, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Fund of hedge funds manager Stenham divulges one new credit fund and one new healthcare fund

Monday, April 22, 2013

Benedicte Gravrand, Opalesque Geneva: - Stenham Asset Management, a fund manager headquarted in London, has just unveiled two new funds of hedge funds: Stenham Credit Opportunities and Stenham Healthcare, both launched on 1st January, 2013.

The firm has invested in credit and healthcare strategies for more than 20 years in its other portfolios, and these two stand-alone funds were launched "in response to increasing investor demand for niche, focused funds of hedge funds."

The credit fund was launched with $21m and has returned 3.44% since inception. The portfolio is concentrated (6-10 high conviction managers) and targets annualised returns of 8 to 12%. Allocations are dynamic and are made to a wide range of credit strategies, such as credit long/short, structured credit and distressed debt strategies. Liquidity is quarterly with 95 days’ notice (and a 25% gate).

There are compelling opportunities in the market for the credit fund, says Tim Beck, senior analyst at Stenham. "Credit markets tend to be structurally inefficient with many investors prohibited from holding certain assets e.g. defaulted debt… The fund is focused on managers who can actively short and benefit from the asymmetry in credit; the fund will take more directional exposure in structured credit and selected distressed investments, including liquidations as well as opportunities from bank deleveraging."

The healthcare fun......................

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 - Hedge funds hike Smurfit Kappa positions amid takeover deal hopes, Hedge fund IBV Capital digs deep to unlock long-term value in a competitive market, Eisman of 'The Big Short' fame recommends shorting Deutsche Bank[more]

    Hedge funds hike Smurfit Kappa positions amid takeover deal hopes From Irishtimes.com: Two US hedge funds, Davidson Kempner and York Capital, have accumulated a combined 4.74 per cent interest in cardboard box maker Smurfit Kappa using financial derivatives. It comes as many investors cl

  2. Foundations of hedge fund managers gave big to controversial donor-advised funds[more]

    In the world of philanthropy and tax-deductible charitable giving, the explosion of donor-advised funds has touched off intense debate. Now, there is evidence that the DAF boom is being further fuelled by hedge fund foundation money. Four of the top five foundations that gave the most to large do

  3. Third Point to raise $400 million for SPAC, Farley to run it[more]

    From Reuters.com: Daniel Loeb's hedge fund Third Point LLC plans to raise $400 million for a "blank check" company which will be run by outgoing stock market operator NYSE Group President Thomas Farley, according to a regulatory filing made on Tuesday. The new company, referred to on Wall Stre

  4. Study: For hedge funds, smaller is better[more]

    From Institutionalinvestor.com: The smaller the hedge fund is, the better its performance is likely to be, according to a new study. The study - "Size, Age, and the Performance Life Cycle of Hedge Funds," released April 26 - sought to determine whether a hedge fund's size and age had any effect on i

  5. Hedge fund returns rose in April for first gain since January[more]

    From Bloomberg.com: Bloomberg Hedge Fund Database shows returns flat this year - Currency strategies had the biggest monthly gain at 13% Hedge fund returns increased 0.78 percent in April, reversing two consecutive monthly declines. The swing of 134 basis points was driven by gains in all seven