BlackRock's Obsidian keeps powering ahead

Wed Sep 1, 2004



Taking advantage of favorable market conditions for fixed-income strategies, BlackRock's Obsidian Funds outpaced most competitors to post gains in July.

Both the onshore and offshore funds, which run about $1.9 billion between them in diversified relative value fixed-income strategies, posted gains of about 1%, bringing their year-to-date totals to 10.27% and 10%, respectively. The July figure may seem modest until put into perspective - most major hedge fund indices posted negative aggregate returns, and many managers have said they would be happy to finish the year with gains of...

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