Monday, 27 April 2015
Last updated 2 days ago
Jan 26 2011 | 2:38am ET
Hong Kong-based Value Partners Group turned in its second-straight double-digit year in 2010, bringing its return since inception to 39%.
The firm's Credit Fund, which debuted in July 2009, added 19% last year, Bloomberg News reports. The vehicle now manages about US$55 million, up from US$10 million at launch.
"We came out of 2009 where spreads were still very wide and there was a lot of value in all the fixed-income space," senior manager Fawaz Habel told Bloomberg. "Today, we see pockets of value but also pockets of completely no value."
Currently, the firm has its long bets split evenly between high-yield and convertible bonds. In September and October, it was weighted heavily towards the latter, but cut back on both in November. It also began shorting investment-grade and junk bonds.
Value Partners is also increasingly betting on Chinese real-estate companies, Habel said.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…