Dec 2 2008 | 10:23am 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.
Jan 30 2018 | 9:49pm ET
As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...
May 24 2017 | 9:25pm ET
Starting in 2019, financial industry executives sitting for the coveted Chartered...
Feb 14 2018 | 9:57pm ET
Tasked with delivering returns on client capital, a common dilemma for many alternative...