{"id":9090,"date":"2008-11-11T00:00:00","date_gmt":"2008-11-11T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"battered-convertibles-lure-brave-hedge-funds","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2008\/battered-convertibles-lure-brave-hedge-funds.html","title":{"rendered":"Battered convertibles lure brave hedge funds"},"content":{"rendered":"<p>guardian.co.uk &#8211; Bolder hedge funds are looking to snap up convertible bonds at bargain prices, returning to an asset class that became a no-go area for them only a short while ago. <\/p>\n<div>The convertible bond market has tumbled 44.5 percent since September, as hedge funds facing a wave of client redemptions paid back bank debt. Many said convertible arbitrage strategies were a thing of the past.<\/div>\n<div \/>\n<div>But yields are now reaching all-time highs and are starting to attract the first daring hedge funds back to the investment arena they traditionally dominated.<\/div>\n<div \/>\n<div>&quot;You can buy a convertible right now on a 25 percent discount to the same bond issued by the same company,&quot; Emmanuel Roman of GLG Partners, one of Europe&#8217;s biggest hedge funds, told a recent conference.<\/div>\n<div \/>\n<div>&quot;You get a 25 percent discount plus a call option. That doesn&#8217;t make any sense,&quot; he said.<\/div>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.guardian.co.uk\/business\/feedarticle\/8008405\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>guardian.co.uk &#8211; Bolder hedge funds are looking to snap up convertible bonds at bargain prices, returning to an asset class that became a no-go area for them only a short while ago. The convertible bond market has tumbled 44.5 percent [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1024,3646,1173,761,874,1721,2549,3645,3644,1885,3647,124],"class_list":["post-9090","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-1-million","tag-andrew-king","tag-anxiety","tag-asian-strategy","tag-cash-bonds","tag-consumer-debt","tag-diamond-retailer","tag-european-officials","tag-fixed-income-arbitrage","tag-florham-park-new-jersey","tag-insurance-operations","tag-lawyer"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9090","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9090"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9090\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}