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David Warren By Beverly Chandler, Opalesque London:
The Brevan Howard Credit Catalysts (BHCC) fund has gone into 2012 holding on to its premium. The fund has $162m under management and is the listed feeder fund which feeds into the $2.1bn BHCC Master Fund. The Master Fund is managed by David Warren of DW Investment Management, a New York-based manager in the specialist credit strategy, trading across a range of opportunities in the credit markets: mortgage-backed securities; distressed corporate credit; performing corporate strategies and structured corporate strategies.
The Master Fund achieved top performing status among Brevan Howard’s funds in 2010 with a return of 14.5%. For the listed BHCC, 2011 to end November saw a year to date return of 1.28% but hung on to its premium with a 1.3% premium at the time of writing.
BHCC chairman, Charlotte Valeur explains that the fund is unusual in the listed alternatives sector, hence its popularity. "We’ve been fortunate that this fund generally trades at a premium" she said. "It’s a relatively small fund but reasonably liquid with both buyers and sellers that match up and in fact is often overweight with buyers."
Valeur believes that the product is unique in the listed space offering access to a single, 'star’ manager. "It’s a very high profile fund and it has good risk management, a good overview, good ...................... To view our full article Click here
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