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Beverly Chandler, Opalesque London:
Sohail Malik is lead portfolio manager of ECM Asset Management Ltd.’s special situations hedge fund, an event driven strategy investing in opportunities across the European loan, bond and equity markets. Credit experts ECM launched the fund in November 2010, achieving a return of 9% since inception. The fund targets returns of around 10-12% and has attracted interest from a wide range of investors including institutions, family offices and wealth managers.
"We launched in the same month as the Irish bail out" says Malik, "so we consider ourselves a child of the Eurozone crisis." The fund is Europe-biased, with at least 75% of the portfolio invested in the continent, but operates a multi asset class mandate and permanent hedging strategy, so has been resilient in the face of the challenges the market has thrown at them over recent years.
"Trades we have done well on include credit opportunities in financials including sub-insurance, leveraged loans and sovereign-related issuers" Malik says. However, looking forward Malik feels that trades are becoming harder as the landscape is getting more dangerous.
"The whole Eurozone crisis is one bucket of intervention in different guises" he says, looking back at Greek bonds in 2011 and forced haircuts on deposits in Cyprus – an unheard of and alarming event. "Markets were banking on ...................... To view our full article Click here
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