Positive returns for all bar one fund in the arbitrage sector


It was a good month for the arbitrage sector, the Barclays High Yield Index ending February at around 577 basis points over treasuries, roughly 66 basis points tighter than where it began the month.

Antarctica Market Neutral Fund was up 2.25%, taking three-month figures to 3.85% and William Blair Green Terrain Fund was up 1.69% to leave three-month figures at 1.78%.

Sandalwood’s Bodleian Partners performed strongly, a 1.84% gain taking three-month figures to 4.38%. Nearly all the fund’s underlying managers were positive although there were a few standouts: these included Appaloosa, which was up 5.38%, and Thoroughbred, which