Global Investment House's Global Distressed Fund was ranked tenth in the Fund of Funds – Distressed Securities/ Event Driven category for the year 2010 and eighth for July 2011 by BarclayHedge, based on its net returns.
Joseph Joseph (pictured), Head of Hedge Funds at Global says: “We are very pleased with the recognitions we received from BarclayHedge as Global conducts extensive due diligence and rigorous research to identify the most attractive managers specialising in the Distressed/Credit strategy .”
The Global Distressed Fund has been consistently ranked among the world’s top ten performing funds within its category. In May 2010, the Fund was ranked sixth in the Fund of Funds – Distressed Securities/ Event Driven category by BarclayHedge. In December 2009, it was ranked second by Eurekahedge based on its annualised returns and Sharpe ratio, in recognition of the Fund’s performance since its inception in August 2002. BarclayHedge has also ranked it eighth in its category in October 2009.
The distressed managers are not immune to the recent sell off which started in the global equity markets from the month of May. However, unlike many other hedge fund strategies distressed managers have always proved to be resilient during similar situations and had delivered respectable return in the long run. Joseph added that in addition to choosing the right managers with proven track records, diversification across distressed strategies has enabled us to generate positive returns in the long run.
Global Hedge Funds team manages different funds and a direct equity long short fund for India to provide diversification for regional investors. The Global Distressed fund is currently up for the year and since its inception in 2002 has delivered an annualized return of approximately 6.35%, during which time the benchmark index has delivered 5.67%.