Energy and commodities specialist CF Partners’ newly-launched CFP
Opportunity Fund – an event-driven strategy launched in December with a
specific focus on energy – has enjoyed a positive start, seizing on the
continuing dislocation in the oil market.
The Dublin-domiciled fund is positioned as a market-neutral
long/short event driven strategy, with low market exposure. It invests
in both credit and equity, at all levels of the capital structure in
energy companies, with the portfolio comprising between 30 and 40
positions, primarily pair trades and capital structure arbitrage trades.
It has an annual target return of 12-15% net of fees, with 7-8%
volatility, and gained around 1% in January when many other event
strategies were down or flat.
The fund is run by portfolio manager Elvis Pellumbi, a 17-year
industry veteran specialising in long/short event-driven investing
across the capital structure in bonds, senior loans and equities.
Pellumbi was previously...