Saba Posts June Drop, Loses Some Investors

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.


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With NFL season on the horizon, it’s time to take a look at our Fantasy Football value picks. Last year, we nailed it on Drew Brees, Jordan Howard, Frank Gore and Dwayne Allen. We missed pretty badly on Duke Johnson, Demaryius Thomas, Mohammed Sanu and Eli Manning.