1) Mellon HBV Rediscovered
Mellon HBV Rediscovered Opportunities Fund has managed to
post returns of roughly 8.3% over the last 12 months ending in
April. The distressed fund gained a respectable 0.7% in April,
pushing year-to-date returns to 3.0%.
Bonds and bank debt lifted the portfolio in April, led by
debt holdings in bankrupt software and services company
Peregrine Systems. Another help in April was 43 basis point
gain in bonds of the Personnel Group of America, which repaid a
large chunk of debt to...