According to the CSFB-Tremont index, distressed debt players were in positive territory in May. The funds were up 0.13% and are now up 2.84% year-to-date. Convertible bond arbitrage, meanwhile, fell by another 1.55% in May and is down 7% year-to-date. Fixed income dropped 1.24% and is down by 0.61%. Of the 13 strategies tracked by CSFB-Tremont, the strongest performance has come from dedicated short-bias strategy.
Distressed Debt Funds Stay Positive