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Opalesque Exclusive: Losses, launches and opportunities in credit hedge funds - fixed-income house Augustus is now buying corporate credit Benedicte Gravrand, Opalesque Geneva:

Losses Not all is rosy for credit hedge funds in general. The Palomar Structured Credit hedge fund index, for example, has been nose diving of late (Source). Many hedge funds have suffered losses but are banking on unwanted bank debt they bought. According to Financial News-US, at least six hedge funds with investments in credit are in the midst of unbroken runs of losses that have so far cost investors around 20% of their investment. In addition, at least four European collateralised loan obligations have run into problems (Source.)

London-based Augustus Asset Managers Ltd's credit expert and fund manager (covering primarily European credit markets at investment grade up in terms of ratings), Darren Reece, shared his thoughts with Opalesque on the sector.

"The main problem that have occurred in credit hedge funds over the last 9 months or so has really be......................

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