Wednesday, 17 December 2014
Last updated 11 hours ago
Mar 14 2014 | 10:13am ET
New York-based event-driven hedge fund Maglan Capital added 5.8% in February, bringing its year-to-date gains to 10.12%.
The fund continued its strong showing from 2013, when it generated a 59% return.
In their most recent letter to investors, Maglan founders David Tawil and Steven Azarbad said the February gains were spread throughout their core long portfolio.
“In addition,” they wrote, “...our investments in gold through the gold-miners, which were put on principally as a hedge against any pullback that might result from 2013’s run-up in equities, contributed to additional appreciation of the portfolio. Lastly, a new position in February, taken in the equity of a consumer-retail chain executing on an operational turnaround, [hhgregg] that was treated to an overly-harsh sell-off in January, had a 35%+ rebound last month.”
Maglan Capital focuses on all parts of the distressed cycle, investing in liquid instruments across the capital structure of companies approaching or experiencing financial distress, bankruptcy or restructuring.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.