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Opalesque Exclusive: 2M Asian Absolute Return fund +57.33% in 2009, manager in US tour next month The Bahamas-domiciled 2M Asian Absolute Return fund returned -2.27% net of fees in December. For the year 2009, the fund gained 57.33%. Since its inception in September 2005, the strategy has gained 235.73%.

Mike Munns, 2M’s portfolio manager said that losses in December were primarily attributable to losses in the Model Trading portfolio. Those losses were tempered by positive performance in both the Convertible and Risk Arbitrage portfolios. This brings the full year performance for the fund to +57.33% which is a significant recovery from a difficult 2008 (-20.38%).

He said: “In 2010 we will again focus on achieving strong positive returns by continuing to responsibly invest in the broad range of exciting opportunities in the Asian region.”

Magnum Global Investments Ltd will be hosting a meet-the-manager luncheon on Wednesday February 10 in New York. – KM & BG – Source

Investcorp swings to net profit as hedge fund business posts income of $96m in H1-09 From Reuters.com: Bahrain- and London-listed Investcorp swung to a first-half net profit as its hedge fund business recovered from the financial crisis.

On Wednesday, the investment house said net profit in the six m......................

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