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Derivatives

Multi-Strategy Fund Launch Eyes OTC Products For Hedging

Helix Investment Partners will consider entering credit and equity derivatives transactions to hedge exposures in its soon-to-be-launched Helix Combined Multi-Strategy Fund. Lara Branton, marketing manager in Los Angeles, said the fund, which will launch with USD15 million in assets, will consider buying credit default swaps as well as buying and selling puts and calls to hedge risk.

The fund combines the strategies of three of Helix's existing funds, credit arbitrage and convertible opportunities, both of which are capital structure arbitrage funds, and global convertible arbitrage.

It is too early to determine with which firms Helix will execute over-the-counter derivatives trades, or how counterparties will be selected, said Branton. Bear Stearns and Goldman Sachs are prime brokers for the fund.

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