Polygon Up Over 7 Percent In 2014 Despite Ukrainie Hit

Polygon Global Partners, a London-based hedge fund, is up 7.11% in 2014 after posting 2.69% positive returns in February, according to an investor letter reviewed by ValueWalk. On a macro level the fund benefited from the February equity market rally and a corresponding sharp decline in volatility from a peak of 21.5%.

Individual holdings in EU stocks

One beneficial position the fund has is in Inmobiliaria Colonial SA (BME:COL), the little-known Spanish real estate company that the fund believes to own “the best portfolio of prime offices available for rent in Madrid and Barcelona.” Citing Inmobilaria Colonial’s board approval of a €1 billion capital increase, 50% underwritten by three anchor shareholders, the letter noted “that should solve the company’s excessive financial leverage,”...