Lombard Odier Investment Managers' 1798 Credit Convexity Fund was up 31.44% for the first quarter, with most of that gain coming during March. The fund was up 26.77% for March, 2.33% for February and 1.33% for January.
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An astonishing quarter
In their first-quarter letter to investors, which was reviewed by ValueWalk, the 1798 team described the first quarter as "nothing but astonishing in terms of human and economic impact alike." They noted that all risky assets were repriced suddenly due to the speed at which the world's economic activity halted and the uncertainty of the duration of that halt.
Governments and central banks...
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