Cygnus European EN

The Fund invests in special situations and corporate events in Europe. It uses an opportunistic bottom-up approach to identify and invest in inefficiencies and under/over valuations involving M&A, capital structure changes, spin-offs, regulatory changes, restructurings, and bankruptcies. The manager uses different financial instruments which include equities, credit, and derivatives to construct compelling risk/reward positions and a favorable convexity profile. The overlay of hedges provides protection against macroeconomic and tail risks. There is no predefined allocation to any geography, sector, or instrument type. The strategy has distinctively and consistently delivered uncorrelated equity-like returns both to market and peers.