Friday, 24 March 2017
Last updated 18 hours ago
Jan 22 2014 | 1:40pm ET
Fund of hedge funds SkyBridge Capital has soared about 38% over the past two years, thanks to its bet on U.S. mortgages.
The $6.2 billion hedge fund profited handsomely from the Federal Reserve's stimulus program, which has helped lift the mortgage market. And even though the Fed's bond-buying days are numbered, SkyBridge is still bullish on the sector.
"We still like mortgage-backed securities," the firm's Troy Gayeski said.
SkyBridge, which last year had 70% of its assets invested in mortgage strategies, still has 38% of money in mortgages.