Saba Sees August Gains, Black Swan Fund Soars

Sep 9 2011 | 12:42pm ET

August may have been the worst month for hedge funds in almost three years, but Boaz Weinstein isn’t complaining. The former Deutsche Bank trader's Saba Capital Management stayed above the carnage last month as both of its funds posted gains.

Saba's flagship added 2.5% last month, Fortune magazine reports. That puts the fund up 7.3% on the year, in line to continue its run besting Weinstein's projected 12% to 15% returns. The fund has managed an annualized return of 12.5% since its launch two years ago.

But that fund's performance was peanuts compared to Saba's Tail Risk Fund. A "black swan" fund designed to take advantage of the kind of market turmoil and improbable events—such as the U.S. sovereign debt downgrade—seen last month, Tail Risk did just that, soaring 15%. The fund is now up 17% on the year.

New York-based Saba has $4.2 billion in assets under management.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of