Mon, Sep 26, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

U.S. manager Concerto A.M. wins Eur60m credit alpha absolute return mandate from London firm Goodhart Partners

Tuesday, August 31, 2010
Opalesque Industry Update - Concerto Asset Management, LLC, a manager of U.S. corporate credit based in Charlotte, North Carolina, announced a Euro 60 million credit alpha absolute return mandate from Goodhart Partners, the award-winning multi-manager business based in London.

The win takes Concerto Asset Management, an SEC Registered Investment Adviser, to a total AUM of $140 million and also broadens the Firm’s product offering. The mandate will form part of the UCITS III absolute return bond fund run by Goodhart.

Julie Bouhuys, Founder and CEO of Concerto, said she is highly confident that this product will generate strong interest from US pension funds and endowments. “With government bond yields at such low levels, there is a real need for products, which can replace that lost return without simply chasing after more yield further down the capital structure. We have designed this product to do exactly that, and believe that the move away from traditional, index-based bond investing will gather momentum in the coming years, especially with pensions and endowments.”

Ben Fox, a partner at Goodhart, said “with the high volatility that has been inherent in markets for some time, we felt that an alpha focused strategy was the correct way forward. Concerto offered a distinctive blend of both buy side and sell side knowledge and expertise, combined with the institutional quality risk management that we need for our pension fund client base.”

Goodhart Partners launched their UCITS III absolute return bond fund, the Target Return Fund, more than three years ago. It was the first fund of its kind in the market, and uses a multi-manager framework to generate a diversified absolute return from fixed income markets.

(press release)


Concerto Asset Management is a corporate credit focused manager founded by Julie Bouhuys. Its first Credit Opportunity Fund was launched in October 2008 with seed capital from a large European Incubator and has returned a net 23% since inception. Prior to founding Concerto, Julie was in the lending and capital markets business for 25 years, most recently at Wachovia Securities, where until 2006 she was head of the Fixed Income Credit Products Business. Concerto’s team of 11 displays a suite of credit and capital markets skills spanning two prior credit cycles across par, distressed and relative value investing. Concerto is a Registered Investment Adviser with the SEC.

www.concertoasset.com


Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. North America - Acela fight splits hedge fund Connecticut and old money enclaves[more]

    From Bloomberg.com: Connecticut’s residential coastline is two worlds, the one of newcomer millionaires and one whose wealth and New England roots span generations. Now, their differences over a rail route threaten to gum up plans for the U.S. Northeast’s fastest-ever trains. About 30 miles from Man

  2. Activist News - Caesars offers creditors another $1.6bn, would spell end of hedge fund ownership, Activist investors double chance of CEO exits[more]

    Caesars offers creditors another $1.6bn, would spell end of hedge fund ownership From Calvinayre.com: Casino operator Caesars Entertainment has improved its offer to junior creditors to over $5b, but the offer is only good until Friday. On Wednesday, Caesars added an extra $1.6b to the $

  3. Opalesque Exclusive: Modern investor tools (2): A platform that does the job for you[more]

    Benedicte Gravrand, Opalesque Geneva: A new series on technology providers that assist asset allocators. There is disruption in the investor part of the world of hedge funds, coming from platforms that can replace traditionally-run search and analysis. Here is one of them. L

  4. Hedge funds saw four consecutive months of outflows in August, but assets still up by $17.6bn YTD[more]

    Komfie Manalo, Opalesque Asia: Hedge funds witnessed four consecutive months of outflows with investor redemptions totaling $23.8bn as of end of August, data provider Eurekahedge said in its monthly report. But total hedge fund assets grew by

  5. Trend reversals lead to losses as managed futures drops 1.52% in August[more]

    Komfie Manalo, Opalesque Asia: Trend reversals in August have led managed futures traders to lose 1.52% last month according to the Barclay CTA Index compiled by BarclayHedge. The Index is up 0.62% year to dat