Chenavari ABS fund up in July despite slow summer trading

By Joseph McDevitt
27 Aug 2013

Chenavari Investment Managers’ European securitization fund Toro Capital IA was up 1.70% last month, thanks largely to the early redemption of a collateralized loan obligation position amid muted summer trading.

The fund, which invests in a diversified mix of European asset and mortgage-backed securities and collateralized debt obligations, targets net returns of 20% per annum.

It saw limited portfolio trading activity during July, partly because of the traditional holiday winddown in European markets. But in an investor ...

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