LibreMax Up 10%

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.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

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

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.