Thursday, 28 May 2015
Last updated 8 hours ago
Aug 21 2012 | 1:05pm ET
LibreMax Capital soared into the double-digits for the year on the back of a rally of the mortgage market last month.
The New York-based hedge fund, led by Greg Lippmann and two other Deutsche Bank veterans, is up 10.12% this year, Reuters reports. The $1.76 billion fund returned 2.71% in July.
"The combination of a strong rally in pricing and an increase in dealer inventories motivated us to reduce our exposure to certain higher beta sectors," Lippmann wrote to investors. LibreMax's net exposure dropped from 102.4% to 99.9% during the month.
"We saw fewer opportunities to add securities," Lippmann wrote.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…