Tuesday, 7 July 2015
Last updated 33 min ago
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%.
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…