BlueMountain Flagship Up As Much As 9%

Oct 27 2010 | 10:04am ET

BlueMountain Capital Management is riding credit swaps and the equity portfolios of credit derivatives to enjoy returns double that of the average hedge fund this year.

The $4 billion New York-based firm's flagship Credit Alternatives Fund is up between 8.5% and 9% this year, Bloomberg News reports. The bulk of those returns—some 80%—come from the hedge fund's trading in individual credit swaps as well as its investments in the equity portions of collateralized-loan obligations and default-swap indices.

The Credit Alternatives fund has $2.6 billion in assets under management.

The average hedge fund has returned about 4.5% this year, according to industry indices.


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Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

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