Diva Synergy Event-Driven Fund Ends 2011 In Black

Jan 9 2012 | 10:04am ET

In a year marked by declining equity markets, surging volatility and a stable M&A market (+5% globally and +30% in North America), the Paris-based Diva Synergy fund finished the year “in positive territory,” its euro class returning 0.58% net of fees.

The fund outperformed the HFRX Event Driven Index, which was down 4.90% in 2011, and brought its performance since inception to +25.00%. The Diva Synergy fund was established in 2007 by Bernheim, Dreyfus & Co.

The daily UCITS version of Bernheim, Dreyfus’ flagship fund (which was launched in June 2011) returned 1.34% over its first seven months of operations (during the same period, the HFRX UCITS Index was down -5.56%).

The Diva Synergy team expects M&A activity to pick up steadily in 2012. With more available financing, cash-rich corporations and private equity firms should start deploying capital in stronger capital markets. The team is especially optimistic about consolidating tendencies in the technology, industrials, natural resources and health care sectors.

Said fund co-manager Amit Shabi in a statement: “We are at the beginning of a new M&A cycle and Europe should quickly follow the surge in M&A volumes witnessed in North America. We remain vigilant while examining the market for potential opportunities to make money for our investors. As we have for the past years, across all market conditions, we remain optimistic to identify and profit from new and lucrative investment opportunities.”


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