- Added 10 new deals to the portfolio with another 15 successfully closing;
- We benefited from an increase in the offer price for Crius Energy Trust.
- 2 new converts added via the secondary market;
- Broad gains across the portfolio from volatility capture and higher valuations.
FIXED INCOME ARBITRAGE
- Slightly negative performance due to movement on the curve. Spreads slowly continuing to tighten;
- Positioning remains cautious, low risk. Maintaining our position for a flattening of the CAN & US yield curve and long CAN vs US bonds.