Resonanz Capital Insights (7)

Hedge Funds Perspective On Converts for 2023

Overview Of The Convertibles Market Convertible securities (“CB”, or “converts”) offer investors the potential for equity-like appreciation while providing the downside risk protection of a fixed-income instrument. The defensive nature of ...

6 min read

Bear Market Characteristics

Bear Market Duration And Depth The average and median bear market lasts around a year and a half. Certain bear markets have been very brief, for example, the recession of 1990-91 only led to a short, shallow, stock market decline. ...

2 min read

The Exclusive Club of Multi-PM Hedge Funds

In February of this year, we highlighted a trend amongst hedge funds of locking up investors capital for longer time periods, but we noticed that this trends applied to a small number of successful managers, both in terms of recent ...

7 min read

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Higher Frequency Hedge Fund Returns

Most hedge funds report returns only with lower frequency, e.g., weekly or monthly. Yet, many market events play out during a few days only. This imposes the risk that one might miss important dynamics when looking at a time series of ...

9 min read

Market Bottoms Rhyme

Understanding Market Bottoms Investors seek to buy financial markets near a market bottom. However, since market environments rhyme instead of repeating, investors are generally paralyzed by fear as markets decline. It’s difficult to know ...

2 min read

An Investor’s Guide to Crypto by Man Group

The crypto space is becoming hard to ignore with a capitalization of about $1tn (as of July 2022) that is approximately half the value of all US notes and coins in circulation. Source: Man Group Is crypto a bubble? The space has grown ...

8 min read

QFI: Chinese Commodity Markets

China’s futures market is among some of the most active global markets. In 2021, their exchanges were within the top 10 by trading volume (lots). Source: Orient Futures As of August 2022, the four commodity exchanges have a trading volume ...

3 min read

Multi-PM Platforms: How Much Can A Person Manage?

Multi-PM platforms were not always popular, particularly due to their high pass-through fees, however they have gained prominence over the recent number of years due to their stability and performance. In this post, we look at 32 multi-PM ...

4 min read

Credit Hedge Funds Are Back

Credit Managers: Yet Another Comeback Story? 2022 has been marked by a confluence of geopolitical event, as well as the return of a persistent inflation which triggered the first sustained tightening of monetary policy since before the ...

5 min read

Co-investments In The Context of Hedge Funds

Traditionally, co-investments were part of the playbook of the PE industry (but also real estate, infrastructure and energy partnerships) for many years. Over time, they have been gradually adopted by the hedge fund industry (and other ...

4 min read

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