“We actually think there are more opportunities on the credit side,” Quinn said. “You don’t have the bids and the inventory that are kept by the banks like they used to, so it causes a little bit more price dislocation.”
Troy Gayeski, senior manager for the SkyBridge fund of funds, said in a September interview with Bloomberg Television that equities are still the most attractive “vanilla” asset class, given the outlook for U.S. economic growth and continued low interest rates.
Event-driven equity strategies that focus on corporate events, activist positions and share buybacks “are a very great place to be because you don’t need equities to go up to generate attractive returns,” Gayeski said in the interview. Asked about credit-related funds, he said, “you just don’t have any appreciation potential from here.”