Strong returns from familiar managers – October performance review

It is the same familiar firms who are occupying the top 20 positions in our Alternative Credit monthly performance round-up.

The credit opportunties fund from Los Angeles-headquartered Armory Group leads the way again through October. The $45m vehicle is up 57% for the year although returns for the month of October were somewhat muted at 2.3%.

Sancus Capital is the next in line with its master fund up a meagre 0.4% for October but more than 42% for the year.

Other strong performers include Connecticut-based Wexford Capital which has seen its energy and MLP-focused strategy deliver 4.8% gains for the month and 34.5% during 2016.

The new distressed venture from former Paulson & Co managing director Dan Kamensky continues on its upward trajectory. The eponymous fund from the New York manager is now up 24.2% for the year and its fund size has risen to $39.8m.

Meanwhile, Whitebox’s convertible arbitrage strategy is north of 21% for the year and the firm’s fixed income-orientated strategy is separately performing well with fund assets above $280m and YTD returns standing at 11.2%.

If you fund is not listed here, please contact c.matthews@hfmweek.com.

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 be listed in future editions please contact paul.mcmillan@hfmweek.com.

Click here for September review

Top Performers in October

Top Credit L/S FundGAM Global Rates (US) USD$100.6m3.9%
Top Convertible ARBLazard Rathmore Fund Ltd$2.5m5.4%
Top Fixed Income ARBBayCity L/S Credit Offshore Ltd$479.8m2.3%
Top Distressed SecuritiesJLP Credit Opportunity Fund LP$823m5.9%
Top FoHFLighthouse Credit Opp. Ltd (B)$147m1.3%
Top Fixed Income MBSMetacapital Rising Rates Fund$515m3.23%
Top Fixed Income High YieldBCM High Yield Fund A EUR$7.7m3.5%
Top Alt Credit UcitsPTR Kosmos HP USD$614m0.3%
Top 40 Act FundBlackrock Allocation Target$136.1m1.6%

Top 20 Overall YTD (October)

NameFund size ($m)Oct Return (%)YTD Return (%)
Armory Credit Opportunity Fund LP45.02.357.0
Sancus Capital Select Master Fund Ltd34.00.442.4
JLP Credit Opportunity Fund LP823.05.940.1
Wexford Credit Opps LP Class A105.64.834.5
SIDUS IV Credit Opportunity Fund LP37.00.930.6
Marble Ridge LP39.84.524.2
Whitebox Relative Value Partners LP376.35.121.9
Cheyne Total Return Credit Dec 2019240.01.321.8
Sandler Total Return Opportunities13.6-0.721.2
JLP Partners Fund LP24.94.818.8
Cheyne Total Return Credit Dec 2020316.01.318.6
JLP Institutional Credit Fund200.01.318.3
NZC Guggenheim Fund Ltd273.62.517.5
Asgard Fixed Income Fund I Ltd EUR594.90.916.0
Phoenix Fund NV61.31.315.9
Scoggin Worldwide Distressed Fund LLC101.03.615.8
Axonic Systematic Arbitrage Fund LP197.71.015.8
Trilogy Financial Ptnrs Intl Ltd120.02.515.5
Cedar Ridge Investors I LP28.1-0.414.9
Pine River Convert Master Fund Ltd150.32.714.0

Top 50 Credit L/S October

ProgramFund Size ($m)Oct 2016. Return (%)YTD Return (%)
GAM Global Rates (US) USD100.6M3.9-1.7
Franklin Fixed Income Opps Composite65.0M3.112.8
NZC Guggenheim Master Fund814.6M2.816.6
Gracie Credit Opportunities LP59.8M2.34.6
BayCity Event Driven Opp Fund L.P.85.9M2.210.7
Candlewood Structured Credit Hrvst Ltd325.0M2.2-1.4
PIMCO Glbl Credit Opportunity Strategy3561.0M2.26.4
Eiffel Credit Opportunities43.1M2.14.7
LFIS VISION Credit Opportunities I EUR219.8M2.11.8
P Gracie SMA271.0M2.15.1
KLS Diversified Master Fund LP1789.0M2.07.4
Rimrock Structured Product Fund316.6M2.05.8
Serone Key Opportunities Fund USD157.9M1.913.8
III Select Credit Fund Ltd (B)177.0M1.88.7
CVC Global Credit Opportunities Fund360.0M1.67.2
Napier Park European Credit Opp Fund520.1M1.510.5
Rimrock High Income PLUS Ltd2453.9M1.52.7
III Relative Value Crdt Strat LP (3)26.0M1.37.3
Cheyne Total Return Credit Dec 2019240.0M1.321.8
Cheyne Total Return Credit Dec 2020316.0M1.318.6
JLP Institutional Credit Fund200.0M1.318.3
Danske Invest Hedge FI Rel Value362.6M1.37.4
Northlight European Fundamental Credit244.5M1.24.3
PIMCO Tactical Opportunities Fund1061.0M1.28.8
BulwarkBay Credit Opp Fund LP32.6M1.18.8
AAG Aviation Fund109.8M1.03.5
SIDUS IV Credit Opportunity Fund LP37.0M0.930.6
Kingdon Credit Master Fund LP334.0M0.97.8
Rimrock Low Volatility QP Master371.1M0.83.8
Orchard SquarePartners Credit Fund Ltd175.7M0.72.4
BlueBay Credit Alpha L/S Fund199.2M0.6-1.1
Prologue Ltd Class A Shares Series SGD844.0M0.6-1.0
One Oak Capital Mgt Alpha Opp Fund15.0M0.47.2
Coherence Capital Spectrum LP A109.2M0.47.2
Sancus Capital Select Master Fund Ltd34.0M0.442.4
RV Corporate Bonds Fund A55.1M0.30.6
CKC Credit Opportunity Fund166.0M0.33.0
Fifth Street Opportunities Fund LP62.8M0.37.6
Old Orchard Credit Master Fund LP204.0M0.310.5
LNG Europa Credit Fund85.0M0.2-3.7
BlueBay Event Driven Credit Fund128.8M0.11.6
Schroder GAIA BSP Credit USD I Acc34.8M0.0-0.1
Loomis Sayles Credit L/S Ltd562.3M0.02.1
Samuel Municipal Total Return Fund LP29.0M-0.23.2
Cedar Ridge Investors I LP28.1M-0.414.9
Sandler Total Return Opportunities13.6M-0.721.2
Rhodium Capital Credit Fund LP8.0M-0.87.4
SGAS Pearl Vega Limited23.5M-1.34.1
Rivoli Long Short Bond Fund17.9M-1.62.6
Teak Hill Fund108.3M-2.0-17.1

Top 50 Credit L/S YTD

ProgramFund Size ($m)Oct 2016. Return (%)YTD Return (%)
Sancus Capital Select Master Fund Ltd34.00.442.4
SIDUS IV Credit Opportunity Fund LP37.00.930.6
Cheyne Total Return Credit Dec 2019240.01.321.8
Sandler Total Return Opportunities13.6-0.721.2
Cheyne Total Return Credit Dec 2020316.01.318.6
JLP Institutional Credit Fund200.01.318.3
NZC Guggenheim Fund Ltd273.62.517.5
Cedar Ridge Investors I LP28.1-0.414.9
Serone Key Opportunities Fund USD157.91.913.8
Franklin Fixed Income Opps Composite65.03.112.8
BayCity Event Driven Opp Fund L.P.85.92.210.7
Napier Park European Credit Opp Fund520.11.510.5
Old Orchard Credit Master Fund LP204.00.310.5
III Select Credit Fund LP (B)221.01.410.2
PIMCO Tactical Opportunities Fund1061.01.28.8
BulwarkBay Credit Opp Fund LP32.61.18.8
Kingdon Credit Master Fund LP334.00.97.8
Fifth Street Opportunities Fund LP62.80.37.6
KLS Diversified Master Fund LP1789.02.07.4
Rhodium Captl Credit Master Fund Ltd8.0-0.87.4
Danske Invest Hedge FI Rel Value362.61.37.4
III Relative Value Crdt Strat LP (3)26.01.37.3
Coherence Capital Spectrum LP A109.20.47.2
CVC Global Credit Opportunities Fund360.01.67.2
One Oak Capital Mgt Alpha Opp Fund15.00.47.2
PIMCO Glbl Credit Opportunity Strategy3561.02.26.4
Rimrock Structured Product Fund316.62.05.8
P Gracie SMA271.02.15.1
Eiffel Credit Opportunities43.12.14.7
Gracie Credit Opportunities LP59.82.34.6
Northlight European Fundamental Credit244.51.24.3
SGAS Pearl Vega Limited23.5-1.34.1
Rimrock Low Volatility QP Master371.10.83.8
AAG Aviation Fund109.81.03.5
Samuel Municipal Total Return Fund LP29.0-0.23.2
CKC Credit Opportunity Fund166.00.33.0
Rimrock High Income PLUS LP2453.91.52.7
Rivoli Long Short Bond Fund17.9-1.62.6
LFIS VISION Credit Opportunities I USD240.91.92.5
Orchard SquarePartners Credit Fund Ltd175.70.72.4
Loomis Sayles Credit L/S Ltd562.30.02.1
BlueBay Event Driven Credit Fund128.80.11.6
RV Corporate Bonds Fund A55.10.30.6
Schroder GAIA BSP Credit USD I Acc34.80.0-0.1
Prologue Ltd Class A Shares Series SGD844.00.6-1.0
BlueBay Credit Alpha L/S Fund199.20.6-1.1
Candlewood Structured Credit Hrvst Ltd325.02.2-1.4
GAM Global Rates (US) USD100.63.9-1.7
LNG Europa Credit Fund85.00.2-3.7
Teak Hill Fund108.3-2.0-17.1

Top 10 Convertible Arb October

ProgramFund Size ($m)Oct 2016. Return (%)YTD Return (%)
Lazard Rathmore Fund Ltd2.55.45.1
Whitebox Relative Value Partners LP376.35.121.9
Pine River Convert Master Fund Ltd150.32.714.0
Mohican VCA Fund LP17.61.28.4
Polygon Convertible Opport Fund - A459.31.110.5
Basso Investors Ltd478.50.95.7
Context Partners Fund LP69.10.59.9
Castle Creek Arb LLC665.00.42.6
GLG Gl Convertible A USD148.50.30.7
Steelhead Pathfinder Fund664.00.27.3

Top 10 Convertible Arb YTD

ProgramFund Size ($m)Oct 2016. Return (%)YTD Return (%)
Whitebox Relative Value Partners LP376.35.121.9
Pine River Convert Master Fund Ltd150.32.714.0
Polygon Convertible Opport Fund - A459.31.110.5
Context Partners Fund LP69.10.59.9
Mohican VCA Fund LP17.61.28.4
Steelhead Pathfinder Fund664.00.27.3
Basso Investors Ltd478.50.95.7
Silverback Arb Ltd338.0-0.15.4
Palisade Strat. Master (Cayman) Ltd150.9-0.95.4
Lazard Rathmore Fund Ltd2.55.45.1

Top 10 Fixed Income Arb October

ProgramFund Size ($)Oct 2016. Return (%)YTD Return (%)
Whitebox Credit Partners LP280.93.811.2
BayCity L/S Credit Offshore Ltd479.82.30.9
Serenitas Credit Gamma Master Fund LP40.21.67.6
Danske Invest Hedge FI Strategy1153.61.512.2
Blue Mountain Credit Alternatives Ltd5854.71.32.4
NGA Capital Ltd (A)85.81.22.4
Axonic Systematic Arbitrage Fund LP197.71.015.8
Asgard Fixed Income Fund I Ltd EUR594.90.916.0
Lawrence Park Credit Strategies Fund276.10.87.7
Hellebore Credit Arbitrage194.00.513.6
Theorema Credit Equity Opp C EUR22.90.2-5.1

Top 10 Fixed Income Arb YTD

ProgramFund Size ($)Oct 2016. Return (%)YTD Return (%)
Asgard Fixed Income Fund I Ltd EUR594.90.916.0
Axonic Systematic Arbitrage Fund LP197.71.015.8
Hellebore Credit Arbitrage194.00.513.6
Danske Invest Hedge FI Strategy1153.61.512.2
Whitebox Credit Partners LP280.93.811.2
Lawrence Park Credit Strategies Fund276.10.87.7
Serenitas Credit Gamma Master Fund LP40.21.67.6
Capula Global RV Fund Ltd F USD9408.40.25.7
Coast Value Fund I Ltd23.4-0.34.8
Sanctum Fixed Income Fund USD272.0-0.23.4

Top 10 Distressed Securities October

ProgramFund Size ($)Oct 2016. Return (%)YTD Return (%)
JLP Credit Opportunity Fund LP823.05.940.1
JLP Partners Fund LP24.94.818.8
Wexford Credit Opps LP Class A105.64.834.5
Marathon Special Opportunity Fund1251.04.611.3
Marble Ridge LP39.84.524.2
Scoggin Worldwide Distressed Fund LLC101.03.615.8
PSAM Rebound Partners LP38.03.412.2
Hain Capital Investors LLC17.22.97.2
Trilogy Financial Ptnrs Intl Ltd120.02.515.5
Knighthead Master Fund2100.02.43.5

Top 10 Distressed Securities YTD

ProgramFund Size ($)Oct 2016. Return (%)YTD Return (%)
Armory Credit Opportunity Fund LP45.02.357.0
JLP Credit Opportunity Fund LP823.05.940.1
Wexford Credit Opps LP Class A105.64.834.5
Marble Ridge LP39.84.524.2
JLP Partners Fund LP24.94.818.8
Phoenix Fund NV61.31.315.9
Scoggin Worldwide Distressed Fund LLC101.03.615.8
Trilogy Financial Ptnrs Intl Ltd120.02.515.5
OCP Debt Opp Intl Ltd296.01.713.8
Polygon Distressed Opp Fund A119.4M1.513.1

Top 40 40 Act Funds October

This fund from the investment giant, which has had an uninspiring 2016, has delivered strongly monthly returns for October with gains of 1.6%. The $136m fund is made up predominantly of cash and equities and has 15% in corporate bond and 23% in securitise bond products.

Documents for the fund say it “will seek to pursue its investment objective primarily by engaging in short sales of US Treasury securities and by investing in derivative instruments that provide returns that are inverse to those available by investing directly in US Treasury securities.”

NameFund Size 2016-10 Base CurrencyTotal Ret 1 Mo (Mo-End) Base CurrencyTotal Ret YTD (Mo-End) Base Currency
BlackRock Allocation Target Shrs Ser P136.11.6-4.2
Legg Mason BW Absolute Return Opp A1,475.91.55.1
AB Unconstrained Bond A281.11.34.4
MFS Absolute Return A207.81.36.7
Hartford Schroders Global Strat Bd A70.61.12.1
PIMCO Unconstrained Bond A3,608.51.04.9
Ascendant Tactical Yield A34.31.03.2
Western Asset Total Return Uncons I1,124.50.95.0
Putnam Diversified Income A3,040.00.92.3
PIMCO Floating Income A327.40.99.1
Columbia Mortgage Opportunities A266.30.95.5
RBC BlueBay Absolute Return I150.80.8-0.6
Guggenheim Macro Opportunities A3,441.70.88.5
PIMCO Fixed Income SHares LD31.30.84.1
Prudential Global Absolute Return Bond A26.10.84.9
American Beacon Flexible Bond A142.00.74.0
Transamerica Unconstrained Bond I219.30.76.9
Neuberger Berman Unconstrained Bd A54.90.71.0
PIMCO Unconstrained Tax Managed Bd A116.90.73.8
Pioneer Dynamic Credit A267.70.610.6
Morgan Stanley Inst Strategic Income A9.80.62.6
Goldman Sachs Strategic Income A9,166.10.61.6
Hartford Unconstrained Bond A86.30.63.6
James Alpha Hedged High Income A15.00.57.3
Putnam Mortgage Opportunities I10.20.52.6
T. Rowe Price Global Unconstrain Bd Adv236.30.53.9
Touchstone Credit Opportunities A52.40.59.9
Wells Fargo Strategic Income A26.00.45.5
Catalyst/Princeton Uncons Hedged Inc A0.90.416.9
PIMCO Mortgage Opportunities A2,284.30.44.8
Russell Unconstrained Total Return A244.50.4
Semper MBS Total Return Institutional503.80.42.5
Janus Aspen Global Unconstnd Bd Instl6.60.44.8
Bramshill Income Performance Instl78.70.4
GMO Debt Opportunities VI1,527.00.44.6
1290 Unconstrained Bond Managers A69.50.43.6
Western Asset Macro Opportunities A868.30.48.0
Calvert Unconstrained Bond A76.90.35.6
Loomis Sayles Strategic Alpha A1,189.50.35.5
MainStay Unconstrained Bond A1,417.40.37.7

Top 40 40 Act Funds YTD

This experienced US operator, which has been an RIA since 1986 but only in the mutual fund space for three years, is one of the best performers YTD. Its low volatility strategy is up more than 13% for the year and has produced 0.3% during October.

“The Fund was created to act as a solution for fixed income exposure in all market environments,” Spectrum’s website says of the vehicle. “It invests in an array of global fixed income sectors with ability to adjust sector allocations as necessary.”

NameFund Size 2016-10 Base CurrencyTotal Ret 1 Mo (Mo-End) Base CurrencyTotal Ret YTD (Mo-End) Base Currency
Catalyst/Princeton Uncons Hedged Inc A0.90.416.9
Navigator Tactical Fixed Income A457.7-0.714.6
Counterpoint Tactical Income A241.9-0.114.5
Redwood Managed Volatility I276.8-0.314.0
Spectrum Low Volatility Investor37.20.313.6
BTS Tactical Fixed Income A480.9-0.812.1
WST Asset Manager - US Bond Instl72.50.011.5
Pioneer Dynamic Credit A267.70.610.6
Touchstone Credit Opportunities A52.40.59.9
Altrius Enhanced Income I32.60.09.6
Stone Harbor Strategic Income Instl39.0-0.49.6
Prudential Unconstrained Bond A27.30.39.1
PIMCO Floating Income A327.40.99.1
Guggenheim Macro Opportunities A3,441.70.88.5
Columbia Strategic Income A3,172.60.08.2
Western Asset Macro Opportunities A868.30.48.0
Virtus Strategic Income A30.80.07.9
Toews Unconstrained Income107.8-0.37.9
JPMorgan Strategic Income Opps A12,010.70.17.7
MainStay Unconstrained Bond A1,417.40.37.7
Wavelength Interest Rate Neutral17.9-0.67.5
James Alpha Hedged High Income A15.00.57.3
Arrow Alternative Solutions A193.5-1.37.1
Transamerica Unconstrained Bond I219.30.76.9
North Star Bond I16.0-0.46.9
Sierra Strategic Income A547.4-0.56.8
MFS Absolute Return A207.81.36.7
Scout Unconstrained Bond Instl1,526.10.16.4
Eaton Vance Glbl Macro Abs Ret Advtg A1,770.20.25.7
Calvert Unconstrained Bond A76.90.35.6
Wells Fargo Strategic Income A26.00.45.5
Loomis Sayles Strategic Alpha A1,189.50.35.5
Columbia Mortgage Opportunities A266.30.95.5
DoubleLine Flexible Income I326.90.25.4
JNL/Scout Unconstrained Bond A1,242.10.05.2
Legg Mason BW Absolute Return Opp A1,475.91.55.1
Janus Global Unconstrained Bond A1,680.00.35.0
Western Asset Total Return Uncons I1,124.50.95.0
Prudential Global Absolute Return Bond A26.10.84.9
PIMCO Unconstrained Bond A3,608.51.04.9

Top 10 FOHF October

ProgramFund Size ($m)Oct 2016. Return (%)YTD Return (%)
Lighthouse Credit Opp. Ltd (B)147.01.30.4
Corbin Opportunity Fund729.61.29.0
Stenham Credit Opportunities USD51.11.14.7
BCA Alternative Income Fund47.80.55.6
BCM Credit Opportunities Fund LP150.00.43.3
EnTrustPermal FI Holdings NV USD A1663.60.40.9
TAS Fixed Income Arbitrage H USD42.70.21.9
Narrapuno SPC - Convergence A USD31.00.12.6
Sandalwood Debt Fund B LP199.00.13.0

Top 10 FOHF YTD

ProgramFund Size ($m)Oct 2016. Return (%)YTD Return (%)
Corbin Opportunity Fund729.6M1.29.0
BCA Alternative Income Fund47.8M0.55.6
Stenham Credit Opportunities USD51.1M1.14.7
BCM Credit Opportunities Fund LP150.0M0.43.3
Sandalwood Debt Fund B LP199.0M0.13.0
Narrapuno SPC - Convergence A USD31.0M0.12.6
TAS Fixed Income Arbitrage H USD42.7M0.21.9
EnTrustPermal FI Holdings NV USD A1663.6M0.40.9
Lighthouse Credit Opp. LP (B)58.0M1.20.6

Top 40 Alt Credit UCITS October

Ignis Asset Management, the Glasgow-headquartered manager acquired by Standard Life in 2014, tops the Alt Credit Ucits performance list for October.

Ignis’ Absolute Return Government fund, which has $331m in AuM, was up 6.6% for the month of October and 7.3% for the year.

“It is managed to deliver stable returns and low levels of risk, with a target standard deviation of 4-6%, regardless of market movements,” a fund document says.

“The fund aims to achieve its objective through the active long/short management of bond, their derivatives and foreign currency positions.”

ProgramFund Size ($m)Oct 2016. Return (%)YTD Return (%)
Ignis Abs Return Government Bond USD331.26.67.3
DWS Euro High Yield Bond Master BRL1478.15.724.9
Polar Cap Gl Convert Fund I GBP490.04.622.6
GAM Star Alt. FI Inst'nl GBP Income131.34.112.3
PTR Kosmos I GBP614.34.124.0
Man GLG Corporate Bond Fund Prof Acc116.63.628.0
Algebris Macro Credit (UCITS) B USD201.72.62.3
BGF FI Global Op A1 USD7801.92.51.6
GAM Star AR Bond Plus GBP Instl A845.92.16.2
BSF Euro Credit Strategies H2 CHF334.41.7-10.0
GAM Star AR Bond GBP Instl Acc1003.61.64.2
LFIS VISION UCITS Credit IS EUR36.21.3-0.1
GAM Star AR Bond Def USD Instl Acc65.51.13.2
Lyxor / Chenavari Credit Fund I USD20.41.10.6
Duemme SICAV Euro Investments Plus154.61.05.3
Oyster Flexible Credit R EUR PR66.10.93.7
Deutsche Inv I Euro HY Corp USD FCH2.30.911.9
Altana Corporate Bond Fund UCITS29.30.83.7
GAM Star (Lux) Convertible Alpha D USD5.90.84.0
Breisgau-Rent77.60.71.5
GAM Star Credit Opp - USD Instl1000.90.78.7
Alegra High Grade ABS Fund UCITS112.20.53.8
DWS Euro-Bonds (Medium)233.20.55.9
Quaesta Capital Bond Gl Select Fund1.20.5-3.0
Oyster Global High Yield I USD HD248.40.513.5
GAM Star MBS Total Return - USD Inst132.20.53.2
Candriam Bonds Credit Op I-EUR1996.20.54.0
RAM (Lux) Tactical Conv. Europe EUR I110.70.5-0.3
Man GLG ABS Fund Corp Acc115.30.44.0
PTR Kosmos HI USD615.00.42.7
PTR Kosmos HP USD615.00.32.3
PVE Credit Value Fund A34.00.3-2.6
BSF Global Absolute Return Bond A587.90.22.6
RWC Asia Convertibles Fund B USD51.10.22.5
Cheyne Global Credit UCITS IV I1 EUR107.00.24.9
Man GLG Cred-Eq Alternative IN H USD49.10.2-2.0
Man GLG Gl Convertibles IM USD177.70.21.2
Deutsche Inv I Liquidity USD LCH18.80.10.9
Deutsche Inv I Convertibles USD FCH161.00.1-1.8
Oyster European Corp Bonds C EUR344.20.13.4

Top 40 Alt Credit UCITS YTD

Deutsche Bank’s Platinum IV Institutional fund is the standout performer in the credit Uctis sector for the year so far. The Luxembourg domiciled strategy, which has asset in excess of $1.3bn, is up 43.4% for the year and invests predominantly across fixed income debt (78%) and securities (17%).

“The DB Platinum IV Institutional Fixed Income Fund aims to provide investors with exposure to attractively priced, high-quality debt securities plus a derivative overlay to deliver a customised payout,” a fund document reads.

“The Fund is directly collateralised with such high-quality debt securities and offers very limited counterparty risk.”

ProgramFund Size ($m)Oct 2016. Return (%)YTD Return (%)
DB Platinum IV Inst FI I5D1365.4-12.343.4
Man GLG Corporate Bond Fund Prof Acc116.63.628.0
DWS Euro High Yield Bond Master BRL1478.15.724.9
PTR Kosmos I GBP614.34.124.0
Polar Cap Gl Convert Fund I GBP490.04.622.6
Oyster Global High Yield I USD248.40.215.1
Oyster Global High Yield C USD248.40.214.6
New Capital WNBF USD/INR Hedge Inst980.2-0.713.4
GAM Star Alt. FI Inst'nl GBP Income131.34.112.3
Deutsche Inv I Euro HY Corp USD FCH2.30.911.9
Gems Fixed Income Flex Strat USD IN/A-0.39.7
GAM Star Credit Opp - GBP Inst'l (Acc)288.1-0.89.7
Renminbi Bond Fund UI GBP Inst24.6-2.98.4
Ignis Abs Return Government Bond USD331.26.67.3
GAM Star AR Bond Plus USD Instl A845.92.06.6
Oyster USD Bonds C USD166.5-0.86.4
Rubrics Global Credit UCITS USD A317.00.16.4
Deutsche Inv I Euro Corp Bonds IC556.6-0.76.2
Oyster European FI C EUR254.9-0.75.9
DWS Euro-Bonds (Medium)233.20.55.9
Duemme SICAV Euro Investments Plus154.61.05.3
DB Fixed Income Opp DPM USD163.60.05.0
Cheyne Global Credit UCITS IV I1 EUR107.00.24.9
Deutsche Inv I Euro-Gov Bonds FC879.7-1.94.6
Rubrics Global FI UCITS (A-USD)303.00.04.5
DB Fixed Income Opp ADV USD71.0-0.14.4
Man GLG Strategic Bond Fund Prof Inc G403.5-0.64.4
GAM Star AR Bond GBP Instl Acc1003.61.64.2
Rubrics International Bond A - USD1.4-1.14.1
Man GLG ABS Fund Corp Acc115.30.44.0
Candriam Bonds Credit Op I-EUR1996.20.54.0
GAM Star (Lux) Convertible Alpha D USD5.90.84.0
RAM (Lux) Tactical Gl Bnd Tot Re E EUR148.0-0.54.0
Alegra High Grade ABS Fund UCITS112.20.53.8
Oyster Flexible Credit R EUR PR66.10.93.7
Altana Corporate Bond Fund UCITS29.30.83.7
DWS Eurorenta681.5-3.03.5
DWS Covered Bond Fund FD186.1-0.93.5
Oyster Multi Asset Inf Shield R USD38.1-1.13.4
Oyster European Corp Bonds C EUR344.20.13.4

Top 10 Fixed Income MBS October

ProgramFund Size ($)Oct 2016. Return (%)YTD Return (%)
Metacapital Rising Rates Fund515.03.2-6.9
Providence MBS Fund Ltd1112.71.70.1
Metacapital Mortgage Value Fund146.01.70.6
Strategos Deep Value MBS Composite372.01.54.1
Spectrum Master Fund Ltd91.31.43.9
MBS Mantra SMA2.21.37.6
Sterling Mortgage Income Fund Class A62.91.210.1
Dwight Securities Fund A59.11.112.4
Seer Capital Partners Master Fund LP1200.01.1-4.8
LibreMax Offshore Fund Ltd1078.01.12.6

Top 10 Fixed Income MBS YTD

ProgramFund Size ($)Oct 2016. Return (%)YTD Return (%)
Dwight Securities Fund A59.11.112.4
Nykredit Alpha KOBRA106.90.510.5
Nykredit Alpha Mira126.9-1.410.5
Sterling Mortgage Income Fund Class A62.91.210.1
Lynx Plus Fund202.01.09.8
CCP Total Return Fund8.40.29.3
Midway Market Neutral Fund527.00.39.0
Voya Mortgage Investment1282.60.78.5
MBS Agency Fund597.00.37.9
MBS Mantra SMA2.21.37.6

Top 10 Fixed Income High Yield Funds October

ProgramFund Size ($)Oct 2016. Return (%)YTD Return (%)
BCM High Yield Fund A EUR7.73.55.7
Aristeia International Ltd A948.02.212.1
Pictet EUR High Yield I JPY1338.02.2-6.3
Capital Four Credit Opportunities Fund140.42.16.4
WB Opportunities Fund Ltd108.81.06.3
FTM Limited B1.10.812.5
Canepa Short-Term High Yield Onshore1.20.712.9
Concise Capital Composite Fund96.80.712.6
Pictet EUR Short Term Hi Yield HI USD4824.40.55.3
Pictet US High Yield I USD636.00.47.7

Top 10 Fixed Income High Yield Funds YTD

ProgramFund Size ($)Oct 2016. Return (%)YTD Return (%)
Canepa Short-Term High Yield Onshore1.20.712.9
Concise Capital Composite Fund96.80.712.6
FTM Limited B1.10.812.5
Venator Income Fund F57.00.212.2
Aristeia International Ltd A948.02.212.1
Post Credit Opportunities Master Fund14.30.39.4
PENN Core HY Bond Fund LP370.70.18.9
Candriam Bonds Gl High Yield (I)590.30.38.7
Pictet US High Yield I USD636.00.47.7
Horizon Credit Opp LP7.4-0.27.3
Candriam Bonds Euro High Yield (I)2547.90.37.2
Capital Four Credit Opportunities Fund140.42.16.4
WB Opportunities Fund Ltd108.81.06.3
Renminbi Bond Fund CHF B49.3-3.76.3
BCM High Yield Fund A EUR7.73.55.7
Horizon Multi Dis. Fund LP (A)11.1-0.45.7