Performance

Matrix-PVE, Credaris shine as equity turmoil hits credit and CBs

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Credit and convertible funds did not escape the equity market carnage in May, with almost all CB arb funds losing money and only a handful of credit strategies profiting in a difficult month.

In credit, the Matrix-PVE Global Credit Fund, run by former Credaris man Gennaro Pucci, was the undoubted star - up 11.88% for a YTD return of over 29% - while Credaris Credit was up 7.09% on the month.

Chenavari's ABS-focused Toro Capital vehicle gained another 4.26% - for a remarkable YTD showing of 51.81% and a 12-month rolling return of an astonishing 173.42% - while Numen Credit,