Cannizaro benefits from prop-trading vacuum


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.

By using days