Once again, the past quarter has demonstrated how the Amethyst Arbitrage Fund is well served by its diverse arbitrage strategies and the many positions it manages. Two of our three main strategies generated positive returns, resulting in a reasonable result overall.
On the other hand, some segments of our fixed income segment suffered as bond markets were dealt their fair share of chaos, to say the least. In keeping with our disciplined approach to risk management, we exercised caution, liquidating some positions where limited visibility prevented us from concluding that the risk was behind us.
As the last quarter of 2021 begins, we now find ourselves in a good position, convinced that the Fund will end the year profitably. Here follows a discussion of what happened in the third quarter and what we envision from now until the end of the year.