Performance

HCAP capitalises on European debt crisis

by

Steve Howell
The shockwaves of the European debt crisis have reverberated around the world, with Australia and New Zealand no exception.

The HCAP Global Diversified Fund made the most of the distortions this created in the credit markets, ending October up 8.26% and taking year-to-date performance to 28.17%. The Sydney-based macro fund adopts an opportunistic strategy to take advantage of excess market disclocations, explains HCAP Asset Management’s Steve Howell.

Given that the past three months have been characterised by negative surprises for the credit markets, there were plenty of opportunities to exploit yield curve distortions