Bucking the downturn

The Decillion Convertible Arbitrage Fund is run by two talented individuals and the portfolio has performed admirably since its launch despite challenging times. The fund is up 16% between its launch in May 2001 to the end of February, but its performance over the past month has been flat. From Switzerland, fund manager Derek Higgins-Watson says there have been several factors slightly depressing the convertible arbitrage sector including: the fact that volatility is coming down and credit