Hedge Funds

Inflows see Mako's award-winning Pelagus fixed-income strategy flying high at $600m

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Pelagus Capital, the award-winning fixed-income relative value fund managed by former WestLB derivatives trading chief Bruno Usai and run out of Mako Investment Managers, has passed the $500 million mark and is on track to receive additional commitments in the coming months.

The fund now manages $600 million in assets after attracting strong inflows in 2009 and early 2010. Performance also boosted the fund's assets significantly last year. Pelagus returned nearly 24% in 2009, earning the fund its second consecutive EuroHedge Award in the fixed-income category. The fund has returned 26.51%, with a Sharpe ratio of 3.01, since