The DG Value Funds returned 4.1% for the first quarter, with their equity investments responsible for 66% of their performance and their credit investments generating the other 34%. Meanwhile, the DG Concentrated Strategy returned 6.1% for the first quarter, with equity holdings contributing 75% of that performance and credit contributing the other 25%.
For comparison, the HFRI Distressed/ Restructuring Index returned 2.57% for the first quarter, while the HFRI Event-Driven Index gained 2.33%. The Russell 2000 rose 5.18% for the first quarter.
First-quarter commentary
In his first-quarter letters to investors, which were obtained by Hedge Fund Alpha, Dov Gertzulin...