Highbridge Up 4.5% YTD

Bloomberg reports that Highbridge's $8 billion multistrat fund has lost its losing touch and shockingly made money. Allegedly the fund is up 4.5% YTD. Henry Swieca, in true fashion, has been on both the bond and convertible bandwagons (which are in serious pain lately) and has returned 15% in leveraged loans and 8.5% in converts, while also generating 6% in Asia. With the LCDX making a roundtrip from 72 to 82 and back to 72 today, it will be interesting to see what happens to his leveraged-loan returns once late February, early March performance is announced.