Event-Driven Specialist Maglan Adds 5.8% In February

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.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of