Performance

Cannizaro benefits from prop-trading vacuum

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Taking advantage of the trading environment created by the evaporation of prop desk capital looking to trade in Asian markets helped the Cannizaro Asia fund gain an estimated 1.42% in February. The fund made money on the traditional trades that the Cannizaro team long ago cut its teeth on - arbitrage-style trades, yield investment convertibles and relative value convertibles - explained Cannizaro's Alastair Altham. Although fundamental research is as important as ever, it has become imperative to also take more of a tactical approach and trade nimbly around the themes underlying the fund's portfolio, he says.

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