There were notable outliers at both ends of the spectrum among event-driven specialists in October, particularly on the losing side in a month when several French funds came unstuck.
Abrax Merger Arbitrage stood out with a poor showing, losing 10.42% on the month and reducing its YTD gain to just 0.37%. Diva Synergy also had a heavy fall, losing 9.43% to put it into negative territory for the year. Orsay Merger Arbitrage dropped 4.57%, while Jabcap Event Driven was another significant loser – down 5.52% for a YTD loss of 10.98%.
Among the winners, Helium Special Situations was