A macro view on corporate credit has helped the low-profile manager to generate strong returns on low volatility through the credit market meltdown and its subsequent rebound
Few hedge fund players in the credit markets have made better sense of the turbulence in the asset class over the past couple of years than Credaris, the $1 billion London-based specialist credit asset manager led by former JP Morgan man Andrew Donaldson.
In 2008, when many credit hedge funds suffered big losses, the firm posted a blistering gain of 56% in its flagship Credaris Credit hedge fund. And the fund is doing well again this year, in a much-changed corporate credit environment.
The stunning performance last year earned the fund a EuroHedge Award nomination and drew attention to the previously low-key firm, which was established in 2003 with seeding from HSH Nordbank and counts Deutsche Bank as a minority shareholder.