Basis Capital reopens flagship fund

Sydney-based Asian arbitrage player looks to structured credit space for opportunities.

Sydney-based alternative investment boutique Basis Capital has reopened its flagship Pac-Rim Opportunity Fund to new investors. The multi-strategy Asian arbitrage fund currently stands at $260 million.

The fund has enjoyed an annualized return of 10% since its inception in August 2000. Basis CIO Steve Howell says the fund has an enlarged capacity of $500 million.

We've reopened the fund because we're seeing better opportunities in the credit space to generate alpha, says Howell. We're employing more longshort trading in the credit derivatives area to ITRAXX and CDX indices and single name credit default swaps.

Howell says he will increase allocation to credit...

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