Our team of experts has been investing in their focused markets for most of their careers, and for most of them, since the inception of their market segment.
Within European Asset Backed Securities (ABS), Chenavari is one of the first players to capture the market dislocation of the European ABS market. We invest in both primary and secondary asset-backed securities and CLOs, with a focus on finding the best value across the capital structure, using our proprietary analytical tools.
Within European financials, our investment team benefits from our proprietary internal model to conduct detailed fundamental (such as screening of all issuers including callability, extension risk) and technical analysis (such as funds inflows and outflows). The team follows closely the impact of evolving regulatory impacts on the sector, allowing us to find relative value and directional opportunities across European banks and insurance companies across issuer typology (Universal Bank, Retail Bank, Investment Bank, Insurance Company, etc.) and capital structure.
Within Corporate Credit, we focus on alpha opportunities such as mispriced securities, better relative value between issuers, sectors or across the capital structure or macro themes. Our desk analyst model allows the investment and research teams to have immediate and in-depth dialogue on fundamental credit analysis and related news flow on a real-time basis.
Within Index, Options & Tranches, Chenavari has been an active player since its inception and our ability to understand and trade in the index, options and tranche markets have allowed us to construct efficient solutions to investors and to our funds, either as a short product or as an investment.
We believe our team’s deep knowledge of the cash and derivatives markets and the cohesiveness of the team across different segments of the Credit Markets has been one of our strengths in allowing us to find relative value, within and between these market segments.
We have built a risk team which consists of ex-traders and quants to truly challenge our investment ideas. Through our proprietary risk system “CLARK”, our investment team can run risk scenarios on a real-time basis, allowing us to manage the risk of our investments dynamically.
Chenavari was one of the first players to capture the market dislocation of the European ABS market. The strategy takes an active trading approach in both primary and secondary asset-backed securities and other structured credit investments, with a focus on finding the best value across the capital structure
The long/short corporate credit strategy invests in relative value and directional opportunities across the capital structure in corporate markets, including Investment Grade, High Yield, and stressed/distressed situations
The long/short European financials strategy focuses on relative value and directional opportunities across the capital structure of financial issuers, with a focus on subordinated bank debt.
Fundamental credit selection is backed by a proprietary internal rating model and the team has a deep understanding of the impact of evolving regulatory impacts on the sector
The Convexity strategy utilises relative value and directional trading of well-diversified credit indices and their derivatives, targeting a convex payoff profile in the event of significant spread moves, whether widening or tightening.
The portfolio is built primarily with Investment Grade strategies
Launched in 2012, our Multi-Strategy Credit fund aims to provide our investors with absolute returns across market cycles, by dynamically moving capital among several underlying credit strategies as market opportunities evolve. Thanks to our dedicated credit research team, we strive to uncover the best fundamental value opportunities throughout European credit markets
Launched in 2015, our dedicated UCITS Investment team pursues a European fundamental and trading-oriented Long/Short approach which aims at achieving positive risk-adjusted returns in both tightening and widening spread environments, with low volatility and low correlation to broad market indices
Chenavari manages a vehicle listed on the London Stock Exchange, predicated on the success of the firm's existing strategies
Chenavari Toro Income Fund Limited builds and expands upon the successful investment strategy of the firm's initial ABS strategy, Toro Capital. Toro Capital was an open-ended investment fund, which since its launch in 2009 invested in and actively traded a portfolio of asset-backed securities -- investment opportunities that principally arose from the 2008 global financial crisis. Chenavari Toro Income Fund Limited seeks to generate an attractive absolute return through ABS or loan investments, direct or indirect, in diversified sectors of the economy, and through the origination of credit portfolios
For further information please visit www.chenavaritoroincomefund.com