Highland Financial Preps ABC/MBS Fund

Mar 17 2006 | 12:00am ET

Highland Financial Holdings is launching its third fund on April 1 with between $100-150 million in assets under management. The new offering, the Highland Spectrum Fund, will invest across a wide range of credit quality ABS and MBS offerings.

According to a source close to the firm, the new fund is unusual for an ABS/MBS hedge fund in that it gives investors a single access point to the entire spectrum of credit qualities, hence the name “Spectrum Fund.”

Currently, the firm has two funds, one that invests in short duration, high credit quality facilities and one that invests in lower grade credit products, specifically triple-B or double-B.

Initially, the new offering will take positions in both of the firm’s current funds, though the portfolio managers will have the option of making other investments.

Paul Ullman, ceo and founder for the firm, will oversee the new fund, which has the capacity to take in $750 million to $1 billion.  


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.