Fri, Mar 24, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
New Managers October 2012

Profiles - Two emerging hedge fund managers, Mandrill Capital and Voltan Capital, speak about their new funds.

Mandrill multi-strategy fund outperforms hedge fund indices in Q3 on long stressed credits and long equity positions

Gaston Bullrich

The multi-strategy fund run by New York-based Mandrill Capital Management has widely outperformed a number of hedge fund indexes for the last 18 months, and its performance even picked up in the past two months. However, it has been lagging both the S&P and High Yield indices.

The Mandrill Capital Master Fund, a BVI-domiciled fund which currently manages $1.3m, is currently featured in Opalesque Solutions' Emerging Managers Database.

In an interview with Opalesque, Mandril's Chief Investment Officer Gaston Bullrich said that the fund was up 13% YTD as at end Q3 (+4.1% in August and +3.6% in September) versus its benchmark the S&P 500, which closed +16.4% and the ML High Yields at +14.0% YTD to September. Launched in January 2009, the fund returned 72% that year, 17% in 2010 and -8% in 2011.

Mandrill establishes an overall macroeconomic view based on current and projected macroeconomic trends. It then selects credit securities from global credit markets focusing on large issuers where the manager's research and experience indicate that the security's probability of default is lower/higher than what markets are pricing. Equity securities are selected by using proprietary screens that include technical and fundamental factors that have shown historical positive expected returns.

The main contributors to the fund's recent positive gains were long stressed credits and long equity positions. Within the fixed inc......................

To view our full article please login

This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
New Managers
New Managers
New Managers

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. Hedge fund liquidations in 2016 surpass 2009 levels, new launches decline[more]

    Benedicte Gravrand, Opalesque Geneva: Even as the hedge fund industry's total assets exceeded the $3tln milestone last year, hedge fund liquidations increased. So much so that 2016 had the highest number of liquidations since 2008, claims the latest HFR Market Microstructure Report, re

  2. Hedge funds find no joy in macro as returns lag Trump rally[more]

    From Gulfnews.com: In 2017, macro hedge funds were expected to shine. So far? Not so much. It's been a far from impressive first two months for funds that trade around macroeconomic events. Discretionary funds rose just 0.3 per cent through February, according to Hedge Fund Research Inc., while the

  3. Strategies - Billionaire investor Marc Lasry shares how he's playing markets right now, Classic models are failing FX hedge funds desperate for return[more]

    Billionaire investor Marc Lasry shares how he's playing markets right now From CNBC.com: Buy on the prospect of deregulation. Sell on the enactment of deregulation. That's the strategy that billionaire investor Marc Lasry is implementing, according to an interview with CNBC in Las Vegas

  4. Opalesque Exclusive: Aberdeen makes the case for the lower mid-market[more]

    Bailey McCann, Opalesque New York: Aberdeen Asset Management has released a new paper focused on lower mid-market private equity. According to the paper, this segment of the private equity market is gaining popularity with private equity investors that are looking for multiple expansion and less

  5. Hedge funds await outcome of French elections, feel pinch on lower oil prices & weak dollar[more]

    Komfie Manalo, Opalesque Asia: Hedge funds felt the pinch of lower oil prices and weak U.S. dollar as the Lyxor Hedge Fund Index was marginally down as of the week ending 14 March, Lyxor Asset Management said in its Weekly Briefing. The Lyxor He