Managers' mixed bag


Convertible arbitrage, which has been hit hard by investor redemptions, continues to struggle as the only strategy still under water for the year. In October, managers had mixed results. Gainers include Louis Hanover's Marathon Global Convertible Fund, up an estimated 0.43%, Aristeia International (Class A), up about 0.37%, and JMG Triton Offshore (Class A), up 0.2%. Less successful were: FrontPoint Convertible Arbitrage Fund (down 1.8%) and Arbitex Investors, whose Class B shares dropped some 1.33%, putting the strategy deeper into negative territory, at an estimated -14.86% for the year.