Comment by: Anonymous. Posted 15 years ago [2009-02-11 14:47:23]

Seems to be the way of the world at the moment. A number of ex cdo managers are running around talking to investors about advising them on their existing positions and don't seem to see the irony...

Comment by: Anonymous. Posted 15 years ago [2009-02-11 14:32:21]

It's quite amazing that a manager with well publicized problems in its CDO portfolios (as reported in Creditflux) and a Relative Value Credit Fund that imploded in the second half of 2008 (it ended the year at -31% after suffering a drawdown of around 45% over Q3 and Q4)can launch this sort of Fund at all. Furthermore, their communication was distinctly suspect in January as the manager commentary for December for the Relative Value credit Fund was signed by their Chief Investment Officer for Europe with no word at all on what has happened to the lead portfolio manager. May be he was just on holiday at the time of writing.

Comment by: Anonymous. Posted 15 years ago [2009-02-11 13:31:58]

When all else fails, try something new! Aladdin has a poor record as asset manager in various venues - CDO Funds, and opportunity funds. They also have announced plans to build up a B/D business. Maybe the third time will be a charm! We will see what "sticks". Good luck.

Comment by: Anonymous. Posted 15 years ago [2009-02-10 16:52:26]

Managers usually shy away from announcing fund launches due to legal hurdles, glad to see they got comfortable. I wonder if it's an off-shore fund, in which case I'd love to know how they got around the trade/ business tax issues.

Comment by: Anonymous. Posted 15 years ago [2009-02-10 15:27:35]

Talk about short investor memory. I copy from your January 19th 2009 article: Stamford-based Aladdin Capital has gated its Relative Value Credit Fund and the Relative Value Credit Master Fund, a regulatory announcement today revealed. The firm said it has suspended all redemptions, as directors feel the assets necessary to fund redemptions would be detrimental to the interests of the master fund. The suspension was approved with effect from last Thursday (15 January) for an indefinite period. On Friday, Aladdin also announced that it was reducing its CDO business and staff in this area. Aladdin's relative value fund was down last year by 14.4% (up to late November), according to Creditflux figures. The alternative fixed income asset manager was set up in 1999 and manages around $16 billion of credit assets.