Thursday, 21 August 2014
Last updated 2 min ago
Aug 15 2008 | 11:45am ET
The bigger they are, the harder they fall. Or something to that extent.
FrontPoint Partner’s $378.5 million Relative Value Opportunities Fund, a fixed-income arbitrage strategy, has been feeling the pinch since the beginning of the year. The fund began its first three months of trading down about 22%, but has recovered some of its losses in recent months to the tune of some 7.6%, according to public databases.
Still, the fund’s performance has fallen in line with those of its competitors dropping 16.09% through June. The Hennessee Arbitrage/Event Driven Index declined 1.48% in July (down 2.26% YTD), with most hedge fund managers hurt by widening Treasuries spreads.
The Relative Value Fund invests in securities and derivatives primarily in the global fixed income and currency markets. It began trading in January 2002 and is benchmarked against the Lehman Brothers Aggregate Bond Index.
FrontPoint manages some $9.4 billion in assets.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note