Sun, Nov 23, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Acito: aligned interests, education are critical to credit investing

Wednesday, May 15, 2013

amb
Chris Acito
Bailey McCann, Opalesque New York:

For $700m multi-manager hedge fund Gapstow Capital Partners, credit investing has a lot to offer. Chris Acito, CEO/CIO of Gapstow recently sat down with Opalesque TV to discuss where his managers are finding opportunity in the credit markets.

According to Acito, Gapstow finds an edge in credit investing by maintaining a broad view of credit opportunities beyond corporate debt or high yield. In addition to these asset classes, Gapstow looks at loans, convertibles and structured products. They also look at consumer debt, commercial real estate and bank investments. For him, diversifying the credit return stream is important and can offer notable upside.

He says that investors should have much more of their portfolio invested in credit strategies through these other asset classes if they want to maintain a truly diversified credit position. "If you go to even a sophisticated institutional investor and you ask them how much is invested in credit, the answer typically comes out to be less than 10% of the overall portfolio," he explains. "Credit is where you take some of that risk either on the principal component, or the timing and amount of payments that are associated with that investment. With that definition, and even using the broader four sub-buckets that we talked about before, again even for a sophisticated portfolio, ......................

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. Legal - Hedge fund manager fights £8m tax tribunal ruling[more]

    From FT.com: A hedge fund manager who may have to repay £8m in tax is trying to overturn a tribunal ruling that found he had attempted to shelter millions in an avoidance scheme. Patrick Degorce, chief investment officer at Theleme Partners, lost a tax tribunal case last year. HM Revenue & Customs c

  2. Europe - Hedge funds face exit tax as Iceland central bank discusses plan[more]

    From Bloomberg.com: Hedge funds and other creditors with claims against Iceland’s failed banks face an exit tax as the island looks for ways to unwind capital controls without hurting the economy. The government targets having a plan it can present by year-end that would map out how Iceland will sca

  3. Investing - George Soros puts $500m of his money on Bill Gross, Soros, Paulson backed Hispania Activos mulls Realia takeover, Ex-Credit Suisse trader’s hedge fund sees yen shorts as crowded, Hedge hunters double default-swaps as views split, Large hedge fund positions come under pressure, Vikram Pandit's fund picks 50% stake in JM Financial's realty lending arm for $87m[more]

    George Soros puts $500m of his money on Bill Gross From WSJ.com: Before Bill Gross was fully settled in at his new firm, Janus Capital Group Inc., he received an unlikely visit from the chief investment officer of famed investor George Soros ’s firm, according to a person familiar with t

  4. Opalesque Exclusive: Gray Ghost Ventures aims to make impact investing commercially viable[more]

    Bailey McCann, Opalesque New York: At a time when investing in emerging markets may be falling out of fashion among some investors, Gray Ghost Ventures is confident that great opportunity exists in the emerging markets. The firm may have a unique view into this space as one of the first private

  5. Gross: Inflation is required to pay for prior inflation[more]

    Benedicte Gravrand, Opalesque Geneva: As inflation rises, every dollar will buy a smaller percentage of a good. While deflation will mean a decrease in the general price level of goods and services. These two economic conditions are both in the waiting room. The consensus would like the former to