Chart of the month: TQA outperforms


TQA Investors' Special Opportunities Fund, a long/short credit portfolio managed by Andrew Anderson, returned 0.86% in August, bringing its YTD total to 7.07%. That compares favorably with the Absolute Return Fixed Income High-Yield Index, which gained 0.69% in August to stand at 5.38% for the year.

Gains for the fund, run out of Stamford, Conn., can be attributed to long positions in autos, energy and technology and a more conservative positioning that helped the portfolio avoid significant losses during the market turmoil in May and June. The Special Opportunities Fund now stands moderately short, based on an expectation