Metacapital Rises In June, Cutting Year-To-Date Loss

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.


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