Asia’s Best Credit Funds Say Junk Bonds Will Be Key in 2021
Bloomberg 12/21/2020 David Ramli and Bei Hu
(Bloomberg) When global bond markets dipped in February, fund manager John Stover dove in, predicting a rebound, only to watch prices collapse as the coronavirus pandemic raged on. Stover kept buying.
“It never feels good to buy at the bottom or when things are going down,” he recalled earlier this month, describing hasty phone calls to portfolio companies checking how much money they had left.
The bargain hunting as panicked investors hit the sell button helped Stover’s $50 million Tribeca Vanda Asia Credit Fund gain almost 21% this year as government stimulus kicked in well above the Bloomberg Credit Multi-Strategy Hedge Fund Index, which has been flat. The fund is among several that are bullish about trading opportunities in Asian bonds next year including those in the junk-rated space after generating returns during this year’s volatil
Still Litigating the 2007-08 Financial Crisis: The Claims Keep Coming lexology.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lexology.com Daily Mail and Mail on Sunday newspapers.
To embed, copy and paste the code into your website or blog:
One would think that, as we approach 2021, litigation related to residential mortgage loans originated and sold well over a decade ago would be ancient history. Nevertheless, some suits filed years ago remain active, and, even more surprisingly (and disturbingly), new lawsuits related to loans sold prior to 2008 may be on the way. Here is a look at the current RMBS (residential mortgage-backed securities)-related litigation landscape.
Lehman Brothers Holdings Inc. (LBHI) lawsuits: LBHI has in the last few years resolved more than 100 contractual indemnification/breach of representation and warranty cases that it filed in the United States Bankruptcy Court for the Southern District of New York. We represented many of the companies that reached settlements. But approximately 25 to 30 cases are ongoing (in some of which we are counsel for the defendants), and LBHI is still pursuing pre-litigation demands against some brokers