After the excesses of the holidays, curl up by a roaring fire and nurture your body and soul with a good book.
To be more specific, snuggle up with “Investing in Credit Hedge Funds” by Putri Pascualy and learn the tricks of building a portfolio of credit hedge funds in order to generate lots of uncorrelated alpha returns.
The book both defines the various types of credit strategies and provides a step-by-step guide to portfolio construction.
The detailed definitions and descriptions of high-yield bonds, stressed and distressed securities, convertible bonds, sovereign debt and bank loans would be especially helpful to trustees of pension funds and regents who oversee college endowments.
A strong dose of risk management and due diligence tips will serve investment officers well as they build, assess and refine their institutional fund's credit allocation.
Ms. Pascualy has cut her credit hedge fund management teeth on real-life portfolios. She is senior credit strategist and portfolio manager at hedge funds-of-funds manager Pacific Alternative Asset Management Co. LLC, Irvine Calif., and has restructured a number of large credit portfolios for institutional investors.
