James Dinan’s York Capital Management had an overall good October. As we reporter earlier, as of the end of September, the total firm wide assets were close to $14.3 billion.
York Capital’s long/short hedge fund strategy is applied by the York Total Return Fund, which manages $1.5 billion in assets. The fund accumulated another $100 million in assets in October. The returns in the last month were up by 1.8 percent, while the year to date performance has been +10.8 percent.
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York’s largest Multi Strategy fund has $5.1 billion worth of assets under management. The strategy was up in the range of 1.3 percent last month, while the year to date performance has been around 9 percent. The strategy is usually based on investing in the debt and equity of companies that are on the verge of a major structural changes, like spinoffs, mergers, etc.
York’s Credit Opportunities fund, which manages assets of $4.2 billion, was up by 2 percent last month, while the YTD returns were +15 percent. Since August, the strategy AUM has increased by 200 million. The approach of this fund focuses on investing in distressed debt and securities of companies undergoing balance sheet restructuring, or in those where securities are undervalued.
York European Opportunitites Fund has $1.9 billion under management and returned close to 1.6 percent in October. The year to date returns fall near 8.8 percent.
York Asian Opportunities Fund invests in debts and equities in Asia, and manages $390 million in assets. The performance of this strategy was down 0.3 percent at the end of October. York Asian is up 3.9 percent for the year so far.
The firm also invests in UCITS and Concentrated Funds, with assets in the range of another $2.3 billion, as noted at the end of August 2012.