Multistrategy: Arbitrage lends a hand


A number of multistrategy funds picked up small gains in February, with the Absolute Return Multistrategy Index climbing 1.15% for the month. Deephaven Market Neutral Fund (offshore) stood out for its strong performance: The fund was up 2.19% on gains in merger arbitrage and special situations. Deephaven intends to focus on these strategies until midyear, when widening credit spreads and increased volatility could provide other opportunities. Highbridge Capital climbed roughly 1.03%, while DKR International Relative Value was up about 0.9%. Stark Investments also managed to beat the median, gaining 1.27% for the month. Meanwhile, Thane Ritchie's Ritchie Multi-Strategy