Turnaround Investor Maglan Capital Gains 7.8% In March

Apr 10 2017 | 9:27pm ET

Distressed investing specialist Maglan Capital has reported a +7.82% gain net of all fees and expenses for March, widely outperforming broader underlying markets as well as its comparable HFRI benchmark index.

The event-driven fund’s strong return was driven by a rebound in the share prices of telecommuncations company FairPoint Communications and sizable gains in satellite provider Globalstar, according to an investor update seen by FINalternatives

Despite the gain, Maglan is down a net -0.17% for the year to date. In comparison, Hedge Fund Research’s benchmark HFRI ED: Distressed Restructuring Index lost -0.92% in March but is up +1.42% YTD.

In the update, the company also announced that investment in Maglan Capital is now available through Fidelity Investments. For investors with Fidelity accounts, Fidelity can facilitate investment in Maglan for IRA retirement funds and for general wealth-management funds.

Founded in 2011 by former Credit Suisse executives David Tawil and Steven Azarbad, Maglan is an event-driven hedge fund with a focus on the liquid instruments of companies approaching, in, or exiting bankruptcy. The company carries a concentrated portfolio of investments across the capital structure of small- and mid-cap companies with core focus on financial distress, restructuring and operational turnaround. 


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of