Hedge Funds

Liquidity focus profits Pelagus


The Mako team has made good headway through a torrid time for fixed-income RV

Pelagus Capital, the fixed-income relative value hedge fund launched by Mako Investment Managers, has produced an impressive run of gains since its launch in April 2007 and is steadily growing assets despite the dire fund-raising environment.

The fund, managed by former WestLB derivatives trading chief Bruno Usai, won the EuroHedge Award for fixed-income with its excellent performance in 2008, when it achieved a stellar gain of over 33%.

The return was all the more remarkable given the significant losses that many fixed-income RV players suffered