Event-driven funds, that include merger arbitrage and distressed investing, enjoyed a solid February, which contributed to stable performance for the category.
York Capital Management LP pulled down a 3.2% return, while the Couchman Investments and Couchman International funds notched gains of about 2.56% each. For the most part, losses were small, with no event-driven fund in the Absolute Return Index losing more than 100 basis points in the month.
The Everest Capital Event fund posted a loss of 0.93%, while HSBC's Merger Arbitrage Offshore Fund was also down a fraction at 0.12%. While event-driven strategies are expected to continue