It is shaping up to be a good year for the credit-oriented GLG
Market Neutral Fund - the $800 million-plus multi-strategy
hedge fund managed by Steve Roth at GLG Partners.
After a muted showing in 2011, the fund is comfortably
outperforming its peers across arbitrage, multi-strategy and
credit strategies, having made 13% in the first nine months of
the year. And the fund is beginning to see renewed traction
with investors, after a sustained period of reticence about
investing in credit-related hedge fund strategies.
All of this follows a three-year rollercoaster ride for the
Market Neutral Fund, which fell foul of the financial crisis in
fairly spectacular fashion in 2008 before staging a dramatic
recovery in 2009 and 2010.
The fund lost north of 50% in 2008 - a victim of crashing
markets, forced selling, mass deleveraging and a drying-up of
liquidity. To make matters worse, investors had taken