Hedge Funds

Van Eck plans distressed fund

by

New York-based fund manager Van Eck is in the process of setting up a global distressed investments fund, which will tap distressed fixed-income and high-yield opportunities in developed and emerging markets.

The fund will likely be overseen in part by Hans Humes, head of the high-yield team who runs the firm's popular Van Eck Emerging Markets Opportunity Fund. Another key portfolio management role for the fund will be held by Francis Rodilosso, a former senior debt and emerging markets trader with Credit Lyonnais Securities, who joined Van Eck's hedge fund group in mid-2001. Before Credit Lyonnais, he held similar