Opalesque Industry Update - The second half of 2011 is underway and any hopes for reduced market turbulence in the summer months have been forcefully rejected by recent events. Serious macro events have occurred thick and fast through the year: just as April was seeing markets recover from Japan’s disaster in March, market attention refocused and remains focused on the dramatic amount of debt taken on by governments in the ongoing European and US sovereign debt crises. It has been a volatile year for many event-driven and credit strategies, with some big names in the sector posting YTD losses. Event-driven strategies have struggled to post positive returns, managing a meager 1.37% YTD by July’s end whilst distressed securities strategies posted average losses of -0.84% in July, according to BarclayHedge data. Conversely, the BHCC Master Fund has posted gains of 4.2% in NAV for the first half of 2011, in its half-yearly report: Main Facts:
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Industry Updates
BH Credit Catalysts posts healthy 4.2% gain in NAV
Monday, September 05, 2011
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