Asgard tops the pile – March performance review

Relative value fixed income hedge fund Asgard Fixed Income Fund has had a stellar year so far. The fund invests in European fixed income markets with a bias towards Scandinavia and is up 9.09% from January to March.

Asset management giant BlackRock’s fixed income fund BlackRock Obsidian Onshore also had a good first quarter returning 8.38%.

Swiss firm Jabre Capital Partners came high up the ranking with its convertible bond fund performing well throughout the period. The strategy aims to provide investors with exposure to global equity and debt markets with significantly lower volatility than the underlying asset classes while maintaining a focus on absolute returns.

Decent performers in the L/S credit space for the month include the IP All Seasons Asian Credit Fund and Permal F/I Special Opportunities, while the BNP Paribas Asia Convertible Bond fund stood out in convertible arbitrage and the Endeavour Pembroke Fund in distressed securities.

In the liquid alts space, Pioneer’s Opportunistic Long Short Credit fund was top in terms of March Ucits performance, growing 4.97%, while in the ’40 Act space the Parametric Absolute Return Institutional fund was top with 2.85% growth.

The Alt Credit Intelligence data pages are based on self-reported data provided to Morningstar and a number of other sources plus some self-reported returns provided to the HFM team. The liquid alternatives spread is based on data from Morningstar and Luxhedge. If you would like your fund to appear in future editions please contact p.mcmillan@hfmweek.com.

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Top 20 Overall YTD (March)

NameFund SizeTotal Return March (%)Total Ret YTD (%)
Asgard Fixed Income Fund€277m0.329.09
BlackRock Obsidian Onshore$1.8bn4.508.38
JabCap Global Convertible fund$342m0.956.25
Endeavour Pembroke Fund Limited$34m1.446.05
Sanctum Fixed Income Fund$125m0.524.97
Spinnaker Global Opportunity K1$815m0.304.69
STS Partners Fund$1.5bn1.904.50
Permal F/I Special Opportunities$425m2.084.45
Wasserstein Debt Opportunities Fund$36m0.644.43
Spinnaker Global Emerging Markets K1$1.4bn0.214.38
Finisterre Global Opportunity Master$715m1.444.34
Bluebay Credit Alpha Long Short Fund€226m-0.424.17
UBS (Cay) EUR High Yld$107m0.624.01
LMR Alpha Rates Trading Fund$129m0.753.79
BNP Paribas Asia Convertible Bond$133m1.923.78
Prologue Feeder Fund$1bn1.083.71
Pine River Liquid Rates Fund$985m1.093.67
Sancus Capital Select Master Fund$35m0.563.43
Kingdon Credit Master Fund$357m1.283.42
Acuity Corporate Opportunity Fund Ltd$28m0.143.39
Long/Short Credit
Convertible Arbitrage
Fixed Income Arbitrage
Distressed Securities
40 Act Funds
Fund of Hedge Funds
Alt Credit UCITS