Waterstone Market Neutral Master Fund up 2.72% in January

Waterstone Market Neutral Master Fund up 2.72% in January

Waterstone’s flagship fund was up 2.72% in the month of January. The fund returned 0.75% in 2011. The hedge fund had a very impressive 2008, with a positive return of 12.07%.

The firm uses various types of arbitrage using a value based approach to investing.

The market neutral fund has assets under management of over 1.5billion today.

Canyon Distressed Opportunity Fund likes the backdrop for credit

CanyonThe Canyon Distressed Opportunity Fund III held its final closing on Jan. 1 with total commitments of $1.46 billion, calling half of its capital commitments so far. Canyon has about $26 billion in assets under management now. Q4 2020 hedge fund letters, conferences and more Positive backdrop for credit funds In their fourth-quarter letter to Read More

The fund managers are catious about 2012, and believe that the market is experiencing some irrational exuberance from investors. The hedge fund is 48% hedged currently.

Top holdings below:

Top 5 Net Exposures
Credit Ratings:
HOLX (NR) long convertible bond
AMD (B+) long convertible bond
LEH (NR) long corporate bond
NT (NR) long corporate bond
MAC (NR) long convertible bond

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