Fri, Aug 26, 2016
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. Opalesque Exclusive: Algorithms platform aims to target typical challenges found in quantitative hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva: Last month, Quantopian received investments from Point72 Ventures, the new venture capital arm of Steven Cohen’s Point72 Asset Management.

  2. LatAm hedge funds surge in 1H to +24.4%, emerging markets assets rise[more]

    Komfie Manalo, Opalesque Asia: Hedge funds investing in Latin America posted strong gains through mid-2016, reversing declines in four of the past five years, including the last three years, to lead all areas of hedge fund performance through the first half of 2016, according to the latest HFR Em

  3. Asia - LGT Capital Partners: Alternatives set for continued rise in Asia[more]

    From Asianinvestor.net: More flows are likely into insurance-linked strategies, private equity and trend-following strategies/CTAs, given the benefits of such investments, argues LGT Capital Partners. Despite the numerous quantitative easing programs and bailouts of recent years, the quest for

  4. Opalesque Roundtable: Low and high fee investments often better than mid fee hedge funds[more]

    Komfie Manalo, Opalesque Asia: Hedge funds that charge the low and high fees stuff often provide better returns than "those sort of mid-fee investments", said Keith Haydon, chief investment officer of Man FRM. (Alternative) investment managers who charge high fees would often provide the most int

  5. Hedge fund investors pull $5.7 billion in July[more]

    From Bloomberg.com: Hedge funds suffered a third consecutive month of outflows in July as investors withdrew $5.7 billion, according to industry tracker Eurekahedge. Redemptions totaled $20.7 billion in the three months through July, with money managers betting on equities suffering $18.4 bill