Tuesday, 28 July 2015
Last updated 9 hours ago
May 9 2011 | 1:29pm ET
Polygon Investment Partners' decision to focus on single-strategy funds as opposed to its multi-strategy flagship is paying off.
The London-based firm said both of the funds it launched in mid-2009 enjoyed a strong April. The larger fund, the US$250 million Polygon European Equity Opportunity Fund, rose 3.5% on the month, Dow Jones Newswires reports. The smaller US$115 million Convertible Opportunity Fund added less in April, with a 2.1% gain, but is up 9.7% on the year, compared to 4.5% for the Equity fund, which is managed by Polygon co-founder Reade Griffith.
Both funds returned in excess of 20% last year.
The good news follows a bittersweet month for Polygon, which finally completed the liquidation of its once-US$7.5 billion flagship Global Opportunities Fund. Polygon suspended redemptions from that fund and announced it would wind it down after it lost almost half of its value in 2008.
May 27 2015 | 2:15pm ET
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