Arbitrage: Canyon rises


Spiking volatility was a boon to arbitrage strategies in July, with the Absolute Return Arbitrage Index posting a 0.93% gain to bring its YTD total to 7.20%. Winners included Canyon Capital Partners' Canyon Arbitrage Fund (onshore), which posted a 2.27% rise for the month to bring its YTD to 9.83%. Other funds in the black for July include Thales Holding, which rose 1.78% to total an impressive 12.98% for the year, and Gruss Arbitrage Fund, which gained 1.22%, finishing up 10.24% YTD. At the other end of the spectrum, Thane Ritchie's Ritchie Multi-Strategy Global Fund is still in