Sunday, 3 May 2015
Last updated 1 day ago
Dec 2 2008 | 9:23am ET
Convertible bonds have burned hedge funds in a big way this year, but one firm is betting that next year will bring a different story.
RWC Partners plans to launch a convertible bond fund in January, aiming to profit from the difficulties convertibles have suffered this year. The firm’s Distressed Convertibles Fund will invest in undervalued convertible bonds, which have been made even cheaper by forced selling, much of it by other hedge funds.
The long-only fund will not employ the arbitrage strategy that has caused so much suffering this year, and will invest only in listed convertibles.
The fund will be managed by Miles Geldard, who runs the firm’s two-year-old Global Convertibles Fund.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…