Macquarie's Special Events fund continues to prosper as capital raisings power performance +3.93% for July, and +30.12% 2009 YTD.
1 year return: +24.55%. Annual (Oct 2003) +12.44%
The Special Events fund, which incorporates a multi strategy process including M&A risk arbitrage, buy-write, event related trading and capital raising reported that Capital Raising was the most profitable (+2.4%) as a result of an active pipeline continuing with $10.4b spread over 15 transactions across all sectors during the month.
The targeted buy write strategy produced a further 0.8% return in spite of implied market volatility declining by 3-4% over the month as the market rallied on expectations of improving economic conditions. The market declined by over 5% early in the month, only to rally by almost 13% to finish 7.3% higher.
