Hedge Funds

UFG profits in Russian credit market


Moscow-based UFG Asset Management has made hay in the Russian credit markets with its latest fund, which launched in January and is up over 25% through July.

The UFG Credit Opportunities Fund is a long-biased hedge fund managed by Maxim Tishin, head of fixed income. UFG runs another fixed-income fund, the UFG Russia Debt Fund, which invests in Eurobonds and rouble-denominated corporate debt.

Tishin says the firm saw a great deal of mispricings and dislocation in the credit markets in the fourth quarter of last year and wanted to launch a fund to take advantage of those opportunities.