Prodigal's Absolute Return Fund performed strongly in December with the manager reporting an estimated gain of 6%. The fund has lost -19.96% over the year but, after the second positive month in a row, the manager says that they expect the rapid rate of recovery to hold over coming months.
The fund employs a mix of strategies including quantitative trading, capital structure arbitrage, convertible arbitrage and risk arbitrage. With a geographic mandate covering Asia (excluding Japan) the main markets currently invested in are Australia (34%), Hong Kong (17%, and India (also 17%).
