Greenwich, CT, May 20, 2014 – Tradex Global Advisors, LLC,
an alternative asset management company, announced today that Dr. Ed Altman has
joined the high yield team at Tradex in an alliance to help execute the firm’s
Short-Biased High Yield strategy. Dr.
Altman is the Max L. Heine Professor of Finance at the Stern School of
Business, New York University. He is also
the Director of Research in Credit and Debt Markets at the NYU Salomon Center
for the Study of Financial Institutions and a well-known high yield bankruptcy
expert.
“We are fortunate to have Dr. Altman work with us to help
execute and promote our Short-Biased High Yield Strategy. He is the preeminent authority on high yield
credit and his Z-Score analytics have proven successful over a long time
horizon,” stated Michael Beattie, Tradex founder and Chief Investment
Officer. “I found the Tradex philosophy
of identifying specific opportunistic investments appropriate now and in the
foreseeable future. Their specific strategy
to short worst of breed high yield companies is timely given the overheated
market in high yield credit,” said Dr. Altman.
“We plan to incorporate and utilize the Z-Score metric as part
of our risk management process,” added Richard Travia, Head of Risk Management
for the strategy. “The Z-Score attempts
to predict the probability that a company will go into bankruptcy within two
years of the analysis,” added Travia.
The
Tradex Global Short-Biased High Yield strategy is an actively managed,
short-biased credit portfolio that attempts to provide an asymmetric
return profile, using a proprietary liquid portfolio of cash bonds. The Fund expects to capitalize on current
mispriced credits in the $1.5+ trillion high yield marketplace. Short positions are typically longer dated,
unsecured/subordinated, fixed rate bonds.
Dr. Altman has an international reputation as an expert on
corporate bankruptcy, high yield bonds, distressed debt and credit risk
analysis. He was named Laureate in 1984 by the Hautes Etudes Commerciales
Foundation in Paris for his accumulated works on corporate distress prediction
models and procedures for firm financial rehabilitation and awarded the Graham
& Dodd Scroll in 1985 by the Financial Analysts Federation for his work on
Default Rates on High Yield Corporate Debt.
He was named "Profesor Honorario" by the University of Buenos
Aires in 1996 and is currently an advisor to the Centrale dei Bilanci in Italy
and to several foreign central banks. Professor
Altman is also the Chairman of the Academic Advisory Council of the Turnaround
Management Association. He received his
M.B.A. and Ph.D. in Finance from the University of California, Los Angeles. He was inducted into the Fixed Income Analysts
Society Hall of Fame in 2001, President of the Financial Management Association
(2003) and a FMA Fellow in 2004. In
2005, Professor Altman was named one of the "100 Most Influential People
in Finance" by Treasury & Risk Management magazine.
About Tradex Global Advisors
Tradex
Global Advisors, LLC (TGA) is headquartered in Greenwich, Connecticut.
TGA manages opportunistic internal hedge funds and niche-focused fund of hedge
funds. With its targeted focus, TGA
seeks to identify very specific trading opportunities and to partner with
highly experienced teams to execute the strategy. TGA was founded in 2004 and is managed by
Jeffrey Trongone, Michael Beattie and Richard Travia. TGA was an
affiliate and spinout of Tradex Capital Markets, a large and successful macro
fund of managed accounts that launched in 1998, collectively with peak assets
of more than $3 B.
Tradex Global Advisory Services, LLC
investorrelations@thetradexgroup.com
203-863-1500
@Tradex_Global
No comments:
Post a Comment