Halcyon ABS Fund Up Year-To-Date

Nov 3 2008 | 2:00am ET

Not every asset-backed securities fund is hurting amidst the credit crunch.

Halcyon Asset Management’s $850 million Asset Backed Securities fund is up 3% through September, the New York Post reports. That may not sound like much, but it makes the fund, managed by Joe Wolnick, one of the only ABS hedge funds to enjoy a position return through the third quarter this year.

Wolnick hit it relatively big by sitting on the sidelines for much of the year, believing that loans still had a long way to fall. He only begin buying in September, according to the Post, after bonds fell below 50%.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of

Business Insider has been reporting on the unusual trading activity of a mystery trader who placed a profitable short equity bet to the tune of $21 million on the Aug. 10 move in the CBOE Volatility Index (VIX).