Hedge Fund Awards 2014

“Once confirmed, I was very pleased and humbled, as it is a great honour to get recognition for your efforts in such a competitive international field. It is especially nice being able to win an award like this, as it helps validate the company’s strategy of having a few excellent products that management really believe in and sup- port.” TREA is an independent asset management company, registered and regulated in Spain, with offices in Barcelona and Madrid. It has over € 1bn AUM in long-only and alternative funds, as well as direct investments, managed by a multi-disciplinary investment team of international portfolio managers, who all have long track records and proven management styles. The company focuses ex- clusively on institutional clients. All of these factors make it unique among Spanish competition. Reflecting on 2013 Mr Gadkar said: “I think a big achievement in EM credit was just finishing the year positively! This is something we are very pleased with, given the difficult investing environment. We picked a few broad trends correctly, including the upswing in Argentina, as well as the recovery of peripheral Europe. “We also made some good credit specific calls in Mexico and Bra- zil. Overall, we were able to put enough weight in our high convic- tion ideas to counterbalance the ideas which did not do so well, which is always a challenge.” In recognising the Fund’s successes Mr Gadkar said: “It is always important to be nimble in this business, and I think the ability to be 2014 International Hedge Fund Awards TREA Capital Partners flexible is something which really helped the 3G Credit Opportuni- ties Fund succeed in 2013. The performance was boosted by the fact that the fund has a lot of flexibility in terms of the assets it can buy and, as importantly, does not have to buy, as the fund is not tied to any benchmarks. “We focus on a smaller number of trades that we have a high con- viction in, and we have the ability to quickly reduce the sensitivity of the fund to higher interest rates, which is a headwind to the entire fixed income asset class.” He added: “Team concept is crucial; this year I added a research analyst to my team, which really helped take pressure off in terms of credit research and daily fund management tasks. Having great middle and back office teams with extensive experience also con- tributed to the fund’s success.” Looking ahead to 2014 Mr Gadkar predicts markets will not be predictable, fearing turbulent times are ahead as there has been a multi-year bull market in fixed income. He said: “Just when mar- ket participants get complacent is when I would expect volatility to increase and vice versa. “The returns investors have become accustomed to over the past decade are unlikely to be replicated, so in that sense, we are defi- nitely in a ‘new normal’ in the fixed income markets. This dem- onstrates the importance that investors look to funds such as 3G, which do not track a specific benchmark and have flexibility to invest wherever opportunities may present themselves.” When TREA Capital Partners (TREA) emerging markets (EM) portfolio manager Rohit Gadkar spoke of his reaction to winning the EM credit fund of the year award, he said he was: “Very surprised! My initial reaction was that perhaps there was a mistake. I actually had my analyst call you to confirm that it was true.” Emerging Markets Credit Fund of the Year - 3G Credit Opportunities Fund Fact File Company: TREA Capital Partners, S.V., S.A. Name: Rohit Gadkar Email: [email protected] Web: www.treacapital.com Address: Agustina Saragossa, 3-5, local 2, 08017 Barcelona, Spain Telephone: +34 93 467 5510 “I was very pleased and humbled, as it is a great honour to get recogni- tion for your efforts in such a competitive international field. It is especially nice being able to win an award like this, as it helps validate the company’s strategy of having a few excellent products that manage- ment really believe in and support.” The Columbus Memorial and downtown Barcelona, Spain 37 www.acquisition-intl.com