Thu, Sep 3, 2015
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. Cliff Asness attracts $360 million as liquid alternative funds hold up[more]

    From Bloomberg.com: As U.S. stocks suffered their worst month in more than three years in August, Clifford Asness’s managed futures fund was able to profit. Investors are taking notice. The $9.12 billion AQR Managed Futures Strategy Fund pulled in an estimated $360 million in net subscriptions last

  2. Opalesque Exclusive: When the SEC calls, fund managers need to get out of their own way[more]

    Bailey McCann, Opalesque New York: New pressure is hitting alternative investment funds from all angles. So far this month both hedge fund and private equity players have seen enforcement actions, and subsequent fines over fees, disclosures, and misleading statements. Citi one of the biggest

  3. Performance - Einhorn and Loeb's hedge funds both decline 5% in August, Some target-date funds miss in the market turmoil[more]

    Einhorn and Loeb's hedge funds both decline 5% in August From Reuters.com: Hedge fund billionaires David Einhorn and Daniel Loeb saw their main funds lose roughly 5 percent in August during a dramatic market sell off, two people familiar with their returns said on Monday. Einhorn's

  4. Fortress hedge fund manager David Dredge says markets trouble on the way[more]

    From AFR.com: David Dredge of global hedge fund Fortress has built a career studying, predicting and protecting against the world's major financial crises. The recent convulsions in global sharemarkets are "just the beginning" of a painful adjustment as money drains from the emerging market economie

  5. North America - Puerto Rico agency plans talks with hedge fund creditors[more]

    From WSJ.com: Puerto Rico’s Government Development Bank is planning to begin confidential debt-restructuring talks with hedge funds that own its bonds as early as next week, said a person familiar with the matter. The parties are set to discuss a plan under which the investors would lend additional

 

banner