MacKay Shields bucks October downdraft

Thu Dec 1, 2005



Despite the challenging markets that credit funds faced in October, the $1 billion MacKay Shields long/short strategy managed to stay just above water, netting 0.05% and bringing its year-to-date performance to 2.51%.

That's well above the benchmark CSFB High Yield Index, which lost 0.94% in October for a year-to-date sum of 0.72%. It also comes at a time when uncertainty over energy prices and consumer...

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