Serving the credit funds

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Credit hedge fund managers used to feel like wallflowers at a dance: while equity funds had various strategies such as merger arbitrage and long-short to express their views, credit investors were frustrated by their inability to exploit the rhythms of the market. But credit derivatives have changed all that. Increases in default swap liquidity has encouraged hedge funds to start selling credit protection, either as part of a more complex strategy, or outright. “Existing hedge funds have bee

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