Latin America fund on top – April performance review

Capital Partners’ Latin America Strategic Fund is the top performer YTD April with over 20% returns. The Argentinian-based hedge fund has a primary event driven strategy looking for mispriced securities in the region, alongside momentum trades and a range of fixed income instruments.

IW Alternative, International Investment Advisers and Capstone Equities Capital Management all saw YTD performance in the mid-teens. Capstone’s returns have been boosted by a number of European debt book investments.

David Tepper’s flagship $7.95bn Palomino Fund has also produced double-digit returns so far this year. The Appaloosa Management fund delivered 2.28% in 2014, following stellar returns of 42.36% in 2013 and 29.29% in 2012.

Elsewhere, London-based Chenavari’s Toro Capital, which invests in asset-backed securities, returned 10.22% YTD April, and another big Mayfair-based credit shop, Cheyne Capital, saw its Total Return Credit Fund return 7.65%.

Colorado-based distressed debt specialist STS Partners and London- based emerging markets-focused Spinnaker Capital Group had $1bn+ funds in the top 20.
The $1.5bn STS Partners Fund is up 7.04% YTD April while the Spinnaker Global Emerging Markets Fund is up 5.64% over the same period. The data pages are based on self-reported data provided to Morningstar and other sources plus some self-reported returns provided to the ACI team. LuxHedge and Morningstar provide the liquid alts data.

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.

Click here for May review

Top Performers in April

Top Credit L/S FundHorizon Credit Opportunities Fund Ltd$32m6.94%
Top Convertible ARBPine River Asia fund$170m3.16%
Top Fixed Income ARBAxonic Systematic Arbitrage Overseas Fund$207m3.3%
Top Distressed SecuritiesAstra Sicav SIF Adela A Cap€9m5.09%
Top Credit FoHFIIA Leveraged High Yield Fund $20m6.53%
Top Alt Credit 40 Act FundHighland Opportunistic Credit $92m4.22%
Top Fixed Income ARB UCITS fundAntecedo - Independent Invest€189m5.69%

Top 20 Overall YTD (April)

NameFund Size Base CurrencyTotal Return AprilTotal Return YTD April
Copernico Latin America Strategic Cl$90m1.3822.52
IW Alternative SIF-Low Risk€€8m0.2016.36
IIA Leveraged High Yield Fund$20m6.5315.80
Capstone Equities Capital Management$85m0.6214.84
Axa private selection open bonds€€31m1.3311.29
Palomino Fund$7.95bn-0.6111.08
Asgard Fixed Income Fund€€263m1.8710.96
Chenavari Toro Capital$5407m1.0310.22
Cheyne Total Return Credit Fund 12/2019$181m0.117.65
Astra Sicav SIF Adela A Cap€€9m5.097.30
STS Partners Fund$1.5bn2.097.04
Perinvest Convertible€€34m1.687.03
Wasserstein Debt Opportunities Fund$39m2.476.96
Raven Rock Credit Offshore Fund$109m4.076.94
Quest Global Convertible Fund$30m1.526.77
Salar Convertible Absolute Return fund$230m3.086.52
Delta Prime ESSF - distressed debt€€60m2.396.50
Sanctum Fixed Income Fund$125m0.986.15
Finisterre Global Opportunity Master$816m1.445.83
Spinnaker Global Emerging Markets$1.4bn1.205.64
Long/Short Credit
Convertible Arbitrage
Fixed Income Arbitrage
Distressed Securities
40 Act Funds
Fund of Hedge Funds
Alt Credit UCITS