Chenavari ABS fund up amid quarter-end volatility

By Joseph McDevitt
22 Jul 2013

Chenavari Investment Managers’ Toro Capital IA fund — which invests in a broad mix of European securitized assets — posted returns of 1.08% last month, amid sharper market volatility towards the end of the first half of the year.

In an investor update seen by EuroWeek’s sister publication Securitization Intelligence (SI), Chenavari officials said June’s wider volatility, coupled with the traditional quarter-end illiquidity, presented “great opportunities” for portfolio rebalancing.

“The latest vintages of peripheral senior RMBS lost 3 to 4%, while high beta mezzanines — such ...

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