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October 31, 2010

InvestmentNews: Andrew Palmer Quoted in “Risky Distressed Debt Still Paying Modest Reward”

“Risky Distressed Debt Still Paying Modest Reward,” by Liz Skinner, InvestmentNews.

Financial adviser Andrew Palmer of Bel Air Investment Advisors LLC, which manages about $4.5 billion in client assets, invests about 5% of his client portfolios in distressed debt. So far this year, the strategy he employs has returned about 10% for clients; last year, it returned 35%.

“Distressed debt comes in and out of vogue,” Mr. Palmer said. “It’s still good trade for another year or so.”

Mr. Palmer said that he spends a lot of time explaining the risks and benefits of distressed debt to clients and usually has to educate them generally about hedge funds, which sound scary to clients.

“We use it as a tactical move, not a long-term strategic move,” he said.

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