Sunday 06, April 2008 by

Funds-of-hedge-funds sift wreckage for opportunities

“The S&P rated fund-of-hedge-fund managers are selectively optimistic on the outlook for 2008,” said S&P Fund Services lead analyst Randal Goldsmith. He explained that the volatility in financial markets, increased credit spreads and the prospect of rising default rates had led fund managers such as RMF, Deka and Sail to increase allocations to convertible and volatility arbitrage funds. These give a long volatility bias, providing useful portfolio protection in difficult market conditions. 

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