Arbitrage bites back

Market conditions are looking increasingly favourable for arbitrage strategies, according to the latest monthly survey of fund of hedge fund managers by Hedge Funds Review.

The managers' opinions showed expectations of growing performance among convertible arbitrage, merger arbitrage and capital structure arbitrage.

Philippe Bonnefoy, independent adviser on alternative investment strategies at Commerzbank Securities, said he allocated the highest proportion of his portfolio to risk arbitrage in th

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