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Alternative Market Briefing

Event-driven fund up almost 31% YTD on solid quarterly results

Friday, September 20, 2013

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Steven Azarbad
Benedicte Gravrand, Opalesque Geneva for New Managers:

The Maglan Distressed Master Fund LP gained 0.96% in August and 30.96% YTD. Comparatively, the S&P500 Total Return index lost 2.90% and was up 16.15% YTD

Within the Credit Suisse hedge fund indices, event-driven funds produced the best returns YTD, with the main Event Driven index up 8.6% (-0.04% in August, 2013), the Distressed sub-index up 8.87% and the Multi-Strategy sub-index up 8.50%.

Maglan is an event-driven investment fund with a core focus on all parts of the distressed cycle, investing in liquid instruments across the capital structure of companies approaching or experiencing financial distress, bankruptcy or restructuring. Relying on fundamental, bottom-up analysis, the Fund concentrates on investing in situations with near- to medium-term catalysts including debt securities and equity, with 6-12 core positions.

The fund was launched in January 2011, and it is listed in Opalesque’s EManagers database. It returned -34% in its first year and +41% in 2012.

The firm, New York-based Magla......................

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