Monday, 29 December 2014
Last updated 3 hours ago
Jul 10 2014 | 10:22am ET
New York-based hedge fund Maglan Capital gained 1.83% (net) in June putting it up 14.80% at the halfway point of 2014.
The numbers are far more impressive than those of the average hedge fund, which was up 3.2% in the first half, according to Hedge Fund Research. It also puts Maglan well above the benchmark DJ Credit Suisse Event-Driven Index, which added 4.04% in H1.
In its monthly newsletter, the distressed debt specialist said that in what it termed the “off-season” of the current distressed cycle, it will focus on “turnaround and post-reorganization equities, and regulatory/legal plays.”
“Today, instead of focusing on busted LBOs, we are taking advantage of busted IPOs in some instances,” wrote CIO Steven Azarbad and President David D. Tawil.
One such IPO was that of SFX Entertainment, an event organizer and content provider in the electric dance music space. Maglan said the firm met its criteria of being “misunderstod and out of favor with investors...at the nadir of its earnings potential” while offering “explosive earnings growth because of a unique and sharp management team strategy.”
Over the last 12 months, Maglan is up 47.77% net of fees.
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.