Thursday, 30 July 2015
Last updated 1 hour 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…