Fortress Funds Rise In June

Jul 10 2012 | 11:57am ET

Fortress Investment Group's hedge funds remain well ahead of their peers after a strong June.

The alternative investment giant's flagship Drawbridge Macro Fund was up 3.6% last month, it said in a regulatory filing. The strategy was up 8% in the first half.

New York-based Fortress' other funds did less well, but were still up during a mixed month for hedge funds. Its Asia Macro Funds added 0.8% in June and 6.8% in the first six months of the year.

Fortress also reported strong May returns for its credit funds, which report a month later than its other funds. The firm's credit strategies were up between 0.5% to 0.7% in June and between 6.2% and 7% on the year.

Fortress also reported the returns of its new Asia-focused volatility fund, Convex Asia, for the first time: The fund, which debuted on May 1 with US$55 million in assets, returned 0.4% in its first month.


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