GLG Atlas leads way in distressed sector


Distressed debt strategies kept their strong run going in February for the most part, although broader credit-focused funds found the going a little harder.

Among distressed players, Driss Ben-Brahim's emerging market-focused GLG Atlas Value & Recovery maintained its striking start - up 5.9% on the month and now showing an annualised return of 126.42% since its inception in June last year.

Fortelus Special Situations was up 2.56% and is showing a 12-month return of over 51%, while the Arrowgrass Distressed Opportunities fund gained 1.50% on the month for a three-month return of 17.46%.

In the ABS sector, Chenavari's high-flying Toro