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


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,