Wednesday, 1 October 2014
Last updated 1 hour ago
Jul 27 2011 | 11:51am ET
Hedge funds investing in mortgage-backed securities had a tough time in June, as those bonds took a hit to close out the first half.
Several prominent players in the space, including CQS, LibreMax Capital and MKP Capital Management dropped significantly—if broadly in line with the average hedge fund—last month, Bloomberg News reports.
LibreMax, launched in October by former Deutsche Bank proprietary trader Greg Lippmann, dropped 2.6% in June, cutting its year-to-date gain to 3.2%. Last month was the first losing month of the year for LibreMax, as well as for CQS and Seer Capital Management.
The former's $1.6 billion asset-backed securities fund lost 1% last month and is up 3.55% on the year. Seer, which manages $428 million, fell 1.42% last month but remains up 8.4% on the year.
Another MBS investor, Tricadia Capital Management's $2.2 billion Mariner-Tricadia Credit Strategies Fund, shed 0.33% in June and is up 5.7% year-to-date.
Others are not so lucky. MKP Capital Management's $2.8 billion credit fund lost only 1.03%, in line with several of its aforementioned peers. But the fund was down 4.8% in the first half.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...