CB managers end knockout year on a high


After their annus horribilis the previous year, 2009 was an annus mirabilis for convertible and equity arbitrageurs - with the strategy posting a median return of 38.23% and a mean return of 43.10% after further gains in December, to make it the second best-performing category in the EuroHedge indices.

The top performer for the year was Aviva Investors Convertible Bond Arbitrage, which added 2.69% in December for a 2009 return of nearly 75%. It was also a stellar year for Philippe Jabre's Jabcap Global Convertible Fund, which gained 5.2% for a 2009 gain of nearly 70%.

GLG Global Convertible