Structured Portfolio Management of Stamford, Conn., produced gains across its market-neutral structured credit strategies in January, lifting the SPM Composite Fund up an estimated 2% for the month. That rise follows a gain of 32.58% last year, according to the HedgeFund Intelligence database. By comparison, the Absolute Return Credit Index declined by 0.13% in January after returning 6.78% last year.
A team led by chief executive Don Brownstein allocates the Composite's $225 million in assets across five underlying strategies. In January, the fund was most heavily invested in SPM's mortgage arbitrage funds - Structured Service Holdings and Parmenides -