Acencia Debt Strategies Limited

Low volatility earnings enhanced by capital return

29 January 2013

Acencia Debt Strategies (ACD), a closed-ended investment company, offers exposure to a focused range of predominantly debt-oriented strategies, particularly distressed debt, via a portfolio of carefully selected hedge funds. It gives exposure to some underlying managers with very strong track records, whose funds are either closed to new investment or otherwise difficult to access. Performance has been positive in every year except 2008 and has been achieved with lower volatility than the S&P500 or high yield US debt. 2012 NAV total return was c 9.7% and expected dividends represent a yield of c 4%. Continuation of the fund beyond 2014 will require unanimous support from shareholders, which appears unlikely. A closing of the c 12% discount to NAV over the next 23 months would alone equate to a c 6% share price annual return, with dividends targeted to add a further 4% pa. MORE »

When those about us lose their heads?

30 March 2012

ACD is a closed-ended investment vehicle that offers exposure to a focused range of predominantly debt-oriented strategies, particularly distressed debt strategies, via a portfolio of carefully selected hedge funds. ACD gives exposure to some underlying managers with very strong track records, and whose funds are either closed to new investment or otherwise difficult to access. It does so at a c 20% discount to NAV despite the prospect of a winding up vote in 2014. We expect continuing investment opportunities for successful debt managers, particularly in the area of distressed corporate restructuring over the next two to three years. MORE »

Opportunities continue

2 August 2011

ACD is a closed-ended investment vehicle that offers diversified exposure to a broad range of predominantly debt-oriented strategies, including distressed debt, via a fund of carefully selected hedge funds. We expect continuing investment opportunities for successful debt managers, particularly in the area of distressed corporate restructuring over the next two to three years. ACD gives exposure to some underlying managers with very strong track records, otherwise difficult to access, at a discount to NAV. MORE »