Hedge Fund Update: Currencies Outperform, Credit Proves Unpredictable

Here are March’s movers, shakers, and developments in the hedge fund world. Hedge fund opportunistic credit Brigade Capital Management’s $6.3 billion Opportunistic Credit strategy fund fell 0.1% in March. The strategy invests in credit instruments including bank debt, high yield bonds, structured credit and stressed and distressed debt. After the turbulence in the oil sector over the past twelve months, the strategy now sees plenty of opportunity in the energy, retail and health-care sectors. During March the fund reported losses on ts distressed bank debt position in TXU and a bond holding in Sandridge Energy. According to the fund’s recent…