Friday, 25 July 2014
Last updated 1 hour ago
Apr 17 2012 | 1:50pm ET
Credit hedge fund LibreMax Partners rose more than 5% in the first quarter.
The New York-based firm, founded in 2010 by three former top Deutsche Bank traders, returned 1.41% in March and is up 5.05% on the year, Dow Jones reports. The firm also told investors that its assets stood at $1.3 billion at the beginning of April.
LibreMax wrote that it cut its investments in prime and "Alt-A" mortgages last month in favor of subprime securities.
"Within subprime, we saw the strongest performance from seasoned mezzanine securities," the firm wrote. "In our opinion, many of these bonds have significant upside to modestly improved housing and economic scenarios."
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…