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Alternative Market Briefing

Acme Century Capital Management rides volatility to double digit returns

Monday, August 01, 2022

Bailey McCann, Opalesque New York for New Managers: Hedge funds have had a rough first half of the year, but some strategies are still in positive territory. Convertible Arbitrage funds added $318.52 million through the end of May according to the latest Barclay Fund Flow Indicator published by BarclayHedge. Convertible arbitrage funds have performed well this year and are seeing asset flows come alongside that performance. The strategy has picked up $5.75 billion in new capital year to date through the end of May.

The flagship convertible arbitrage strategy at Acme Century Capital Management is one example of recent outperformance. The strategy was up 2.80% in June and is up 12.41% year to date, according to performance information reviewed by Opalesque.

Acme was launched in 2021 by Stephen Puckowitz and William Ellsworth. Puckowitz and Ellsworth both previously held roles at Admiral Capital Management, and worked together on credit strategies at Morgan Stanley and CIBC World Markets. Acme's approach builds on the work both men did together over their careers.

Acme's convertible bond arbitrage strategy seeks to take advantage of shifts in the convertible bond market to generate alpha. The approach is designed to take advantage of any dislocations that might arise within the convertible bond market. Acme also has several sub-strategies including market neutral, balanced, cr......................

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