Structural (High Credit Quality/Low Liquidity)

Strategy

• Investments involving significant structuring and quantitative risk analysis and unusual, complex, or out-of-favor securities with sparse participation from banks and other alternative investors

Characteristics

• Derivatives and synthetic products
• Floating rate and failed auction rate securities
• Structured notes
• Typical investment horizon of 12 to 24 months

Fundamental Advantage

• Comprehensive knowledge of trading derivatives and structured credit
• Strong quantitative and structuring skill set
• Unique, flexible mandate that can accommodate off the run products