|
|
Opalesque Exclusive: LNG`s Zenith High Yield Bond Fund up +9.7% in January, +17.11% since Nov-08 inception, managers want to remain cautious
LNG Capital (UK) LLC reported that the LNG Zenith fund had started the year with a net performance of up + 9.73% in January, and also had a great first quarter since its inception in November-08, with net performance in 3 months of up +17.11%.
The Zenith Fund is specialized in the high yield debt markets for corporate loans, bonds and credit default swaps. The fund invests in a well diversified bond and loan portfolio and aims to provide attractive investor returns through a low volatility strategy.
According to Fund Manager Alex Vaskevitch, the fund generated those returns by being well positioned in “good companies” and avoiding “bad companies”, as well as tactically taking profits in selected issues that rallied by more than 15% after the first week. LNG re-allocated its profits into short-term corporate debt in solid companies, moving up the quality spectrum into higher rated credits with no liquidity problems as well as participating in the attractive new issue market.
Despite the positive result during the first month of 2009, LNG remains extremely cautious and expects the global macro environment to continue to deteriorate. There are four major unknown variables yet to be quantified: 1.) corporate results, 2.) unknown regulatory landscape, 3.) sovereign borrowing needs, 4.) go...................... To view our full article Click here
|
|
RSS
