Kingdon’s credit fund gains from short book, while flagship stagnates
By Suzy Kenly Waite
Fri Jul 30, 2010
Mark Kingdon’s firm, which managed $4.43 billion as of July 1, is flat in its large long/short equity strategy, while its credit fund is up.
Kingdon Capital Management has had mixed results in its
funds this year. While the firm's $4.3 billion global
long/short equity strategy is down slightly, its $133 million
credit fund has gained 5.6% through June.
"After a sharp recovery from the financial crisis, both the
economy and credit markets are pausing to catch their breath,"
Michael Pohly, portfolio manager for Kingdon Credit, wrote in a
July 21 investor letter. "The slowdown is part of the normal
inventory cycle that follows around the second year of a
recovery, but it is exacerbated by the efforts of consumers and
governments to de-lever their balance sheets."
Kingdon Credit Master...
ISSN: 2151-1845 / CDC10004H
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