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

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

The Life Settlement: Yield For The Investor And Cash For The Consumer

Mar 31 2015 | 6:48am ET

Investors are languishing in a yield-starved, low-interest rate environment, looking...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note