Geoffrey Gwin

The clues to bond selection are in a firm's income statement, says the chairman of hedge fund Group G Capital Partners. He talks to Dalia Fahmy about his $115m long/short high-yield fund

When Geoffrey Gwin says he's an income specialist, he's not talking about cashflow from investments. He's talking about his fund's very specific approach to picking bonds. "The key to understanding high yield is the income statement," says Gwin, 39, who started Group G in 2003 after a couple of years at Symphony Asset Management. Unlike many of his peers he finds a company's income statement more informative than its balance sheet, he says.

Group G's fund managers are particularly interested in