Tuesday, 13 October 2015
Last updated 19 hours ago
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.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…