Friday, 19 December 2014
Last updated 14 hours ago
Jan 17 2013 | 6:56am ET
LibreMax Capital put up a below-average December—but it was enough to push the New York-based hedge fund above 20% for the year.
LibreMax, whose assets soared to $2.4 billion from less than $1 billion last year, returned 20.8% last year, including 0.94% last month. The 2012 return is in line with big gains posted by other mortgage-focused hedge funds; the average mortgage fund rose 20.3% last year, according to Bloomberg News.
LibreMax, led by former Deutsche Bank traders including Greg Lippmann, put about half of its long portfolio into non-agency residential mortgage-backed securities through much of last year, and began buying commercial mortgage-backed securities, collateralized loan obligations and consumer asset-backed securities later in 2012. It also cut its exposure to subprime mortgages late last year.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.