Maglan Adds 14.8% In H1 2014

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.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Expert Says Scale Of Baillon Classic Car Find Rare

Dec 29 2014 | 3:40am ET

Forget about hedge funds, buying rare, classic cars could be called the ultimate...

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

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.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.