This Hedge Fund Giant Outperformed While Cutting Exposure And Risk In Q1 Amid “Dismal (And Occasionally Baffling) Valuation”Michelle Jones
The Canyon Value Realization Fund gained 6.19% for the first quarter and another 1.62% for last month through Apr. 26. The fund recorded gains in all the major asset classes it invested in during Q1.
The Canyon team cut the fund's "level of investedness" 9% in the six months before the fourth quarter of 2018 and then another 4% in October and November. They said accumulating all that cash enabled them to "act as a liquidity provider rather than a liquidity seeker when the markets entered freefall." In December they made large purchases of corporate . . .
This content is exclusively for paying members. Sign up here
If you are subscribed and having an account error please clear cache and cookies if that does not work email firstname.lastname@example.org or click chat