Performance

Cheyne, Alcentra among biggest winners as credit strategies gain

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Cheyne Capital led the way in a generally positive month for credit hedge funds. Cheyne Total Return Credit returned 8.86% for its A-share class, and a little over 3.5% in each of its K and L classes. Cheyne Long Short credit made a healthy 1.69%, while Cheyne Real Estate Debt was up 3.69%.

Trafalgar Recovery made 2.17%, while Simon Thorp’s Liontrust Credit Fund was up 1.97% and RAB European Credit Opportunities was up 1.36%.

Loïc Fery’s Chenavari Multi Strategy Credit Fund made 1.30%, taking it to 10.28% this year, and Mark Benson’s Ravenscourt Multi-Strategy added 1.20% for a