With the bankruptcy rate continuing to rise, many managers are cautiously optimistic on the prospects for the distressed space. However February was a rocky month for many in the strategy thanks to widening credit spreads.
Helium Special Situations was down 2.43% to leave three month figures at 2.37% and Focus Recovery was up 0.59% on the month bringing three month numbers to 2.02%.
Antarctica Credit and Distressed Fund was down 0.5% on the month putting three month returns at 1.01%.
Thames River Distressed Focus Class B was up 1.72% on the month to bring three month numbers to -0.39% and