Tuesday, 26 July 2016
Last updated 7 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.