Sunday, 2 August 2015
Last updated 1 day ago
Jul 14 2014 | 9:18am ET
Boaz Weinstein's Saba Capital Management had a fifth straight losing month in June, shedding 1.3%, as some investors pulled money.
The credit fund has lost 2.9% this year after dropping in the prior two years, according to an investor letter seen by Bloomberg. Saba’s assets went from $3.1 billion to $2.6 billion in May and are down from a peak of $5.5 billion two years ago.
The New York-based hedge fund, led by former Deutsche Bank star tradr Weinstein, fell 6.8% last year, much of it in December, when it lost 4.4%. Saba lost 3.9% in 2012.
Last month, the investment committee of New Mexico’s public employees pension fund voted to pull $43.5 million from Saba.
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…