Roth rides bust and boom cycle with big GLG Market Neutral bounceback

Wed Jun 23, 2010

Read more:



GLG's long-running Market Neutral fund suffered a near-death experience in the CB and multi-strat meltdown of 2008. But Steve Roth and his team have since bounced back in style


Few individual hedge funds illustrate the violent bust and boom cycle that the industry has gone through over the past two years more graphically than Steve Roth's GLG Market Neutral Fund.

One of the oldest and best-known hedge funds in Europe - and one of the best performing over the past decade or more - the strategy has undergone a rollercoaster ride, losing more than 50% in the 2008 meltdown and since bouncing back spectacularly with a gain of over 100% to take the fund back over its high-water mark.

Most hedge fund managers had a torrid time of it in 2008. But few suffered quite such a mauling as those specialising in convertible arbitrage or multi-strategy. Unfortunately for Roth, he and his fund do both.

The combination of markets crashing, financial institutions collapsing, liquidity evaporating, massive deleveraging and forced selling, heavy investor redemptions and some hefty margin hiking by prime brokers...

ISSN: 2151-1845 / CDC10004H

Register

By registering you will receive

  • A monthly newsletter on your specified areas of interest
  • A fortnightly update on the sector

Free Trial

Take a trial today and access

  • Performance news, fund launches, regulation changes and people moves
  • Profiles of fund managers, investors and distributors
  • Live league tables
  • Investor mandates


Popular Searches on HFI