Taconic alters investment process
By Anastasia Donde
Mon Apr 25, 2011
The firm has given more direct responsibility for performance to the portfolio managers after last year’s underwhelming results.
Taconic Capital Advisors recently changed the way its
portfolio managers oversee their funds while freeing up senior
portfolio manager Chris DeLong to focus on larger positions. So
far, the results at Taconic, which was founded by former
Goldman Sachs partners Frank Brosens and Ken Brody, have
improved. Its largest funds are closely mirroring the indices
and performing far better than in 2010.
Last year the firm’s flagship event-driven
vehicle, Taconic Opportunity Fund, gained 5.02% while many of
its competitors rocketed into the double digits, pushing the AR
Event-Driven Index up 13.77%. The Opportunity funds managed
$7.7 billion of the firm’s $9.5 billion as of
January 1. The less-risky event-driven funds, which
ISSN: 2151-1845 / CDC10004H
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