PAMLI, BlueMountain Post Above-Average August Returns

Sep 20 2011 | 2:26pm ET

A pair of prominent credit hedge funds managed to best their peers last month, the worst for the hedge fund industry in almost three years.

PAMLI Capital Management's Global Credit Strategies Fund rose 5.02% in August, Bloomberg News reports. The firm was founded in January by Faisal Syed, formerly of Highbridge Capital Management, and its flagship currently manages $115 million.

BlueMountain Capital Management's fund did not do quite as well, losing 1.89% last month. But that's something of a victory, given the bloodbath that befell the industry. The firm's Credit Alternatives Fund remains up 3.06% on the year.

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