Halcyon ABS Fund Up Year-To-Date

Nov 3 2008 | 1:00am 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

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

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

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of