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New Fund Designed For Negative Rates

Alberto Gallo, former macro credit strategist for Royal Bank of Scotland, has left the bank to join Algebris, with the aim of expanding the $3bn asset manager’s focus beyond financial institutions by launching a fund designed for a world of negative interest rates.

The move to capitalise on the problems faced by insurers and pension funds confronted by very low or negative yielding bonds highlights both the scale of the challenge and the poor performance of many existing hedge fund structures.

“There are very few funds available which can go anywhere in credit, and can also hedge macro risks”, said Mr Gallo.

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