Fortress Macro Up Nearly 13%

Nov 27 2012 | 3:29pm ET

Fortress Investment Group is proving impervious to the malaise besieging its fellow hedge funds this year.

The firm's flagship Macro Fund added another 1.46% last month to bring it to 12.75% this year, ValueWalk reports. The fund profited from long bets on Brazilian and Spanish interest rates, while losing ground on the Mexican peso.

The $51 billion firm told investors that it sees guidance for the fourth quarter as too high, failing as it does to account for the full damage a plunge over the fiscal cliff will cause; Fortress doesn't expect it to be resolved until the middle of next year. It also expects more quantitative easing next month.


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