Canadian hedge fund Kassirer Market Neutral Limited Partnership announced today that earnings were up 1.08% in May 2007.
"Deal flow remains buoyant reflecting low interest rates, low debt default rates, easy financing, and the ubiquitous private equity buyers." Mark Kassirer, CEO of the hedge fund said.
"Competition for assets in this environment has been heated, and bumps on deals are more common now than at any time since the inception of our fund."
The hedge fund profited from a broadly diversified portfolio of merger arbitrage and special situations positions. The fund has maintained a relatively defensive stance and has historic volatility of half the volatility of bonds and one sixth of the volatility of equities, according to Kassirer.
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