Contrarian Capital Bets Big on Cypriot Sovereign and Bank Debt

The credit focused, $3 billion firm Contrarian Capital added a 1.96% gain in its flagship strategy in Q2. Additionally the Contrarian Capital Fund I has added a 1.4% return in July, bringing the year to date gain to +8%. Contrarian Capital was also up in all of its specialty funds in July, Contrarian’s EM focused fund had a tough run in the first half, the Contrarian Emerging Markets returned 1% in Q2 and is up 1.28% for the year after returning +0.67% in last month. The Contrarian Capital Senior Secured fund was up 0.98% in Q2, and is up 6.9% YTD after…