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By Christine Gaylican, Opalesque Asia:

Hedge fund and alternative fund managers have shown that varying strategies work in the good and hard times. Nevertheless, during the heat of the global financial downturn this year, some have turned to credit strategies to flourish and even gained and re-gained the confidence of investors.

The managers engaged by Opalesque in a recent roundtable in Greenwich, Conneticut (Source) in September have agreed that this is the best way to stay liquid and ahead of the pack.

Michael Kelly, co-CEO and Chief Investment Officer at FrontPoint Partners, a $6.5-billion multi-strategy investment firm based in the U.S. but has offices in London, said though they have 16 specialised investment strategies, "credit has offered great opportunities since the beginning of the year. Both in investment grade and high-yield credit.''

Kelly noted that at the moment as some asymmetric opportunity seems to be abating. His firm continues to find more opportunities on the short side of credit, banking on credit spreads, but seriously considering their underlying fundamentals.

Ken Shewer, chairman, co-CIO and co-CEO of the Kenmar Group, on the other hand said there are indeed certain credit strategies that would demand longer lockups that one should match it with a fund-of-funds with longer lockups. He said that this strategy requires confiding this asp......................

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