Friday, 21 November 2014
Last updated 9 hours ago
Aug 20 2013 | 12:57pm ET
Metacapital Management has snapped its four-month losing streak.
The New York-based hedge fund, one of the best performers in the industry in recent years, saw its Mortgage Opportunities Fund rise 1.58% in July, its best month of the year, Reuters reports. Metacapital had suffered losses in each of the previous four months, with second-quarter losses totaling 10.4%.
July's gain means the $1.3 billion hedge fund is down 6.79% on the year—an unprecedented position for a firm that has posted at least double-digit returns every full year since it debuted in 2008.
Metacapital blamed its brutal first half on fears that the Federal Reserve will begin to wind down its quantitative-easing program. The hedge fund said it was surprised by the "violent" market response to the potential taper.
Nov 4 2014 | 9:45am ET
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