Monday, 3 August 2015
Last updated 5 hours ago
Nov 20 2013 | 10:29am ET
Credit hedge fund 400 Capital Management has hired a Bank of America Merrill Lynch vet to lead its push into agency mortgage debt.
Jason Yeung has been named head of agency mortgage strategies at the New York-based firm. He is the 13th member of 400's investment team.
400 invests primarily in mortgage-backed securities.
"We anticipate the sector will offer a number of compelling—and unprecedented—trading opportunities as the Fed withdraws its artificial support of agency MBS, the curve transitions to higher rates and credit-driven criteria complement and drive payment incentives," 400 founder Chris Hentemann, a former head of global structured products at BofA, told investors in his third-quarter letter.
The $815 million hedge fund is up 10.84% through the end of September.
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…