Cerberus mortgage chief: Investment opportunity a “perfect storm”
By Lawrence Delevingne
Mon Jul 23, 2012
Josh Weintraub talks to AR about the RMBS market.
Mortgage investing is one of the hottest hedge fund strategies,
with dedicated funds launching and large multistrats allocating
in large numbers. Fittingly, it has been the best performing
strategy in the industry so far this year: hedge funds that
employ an MBS strategy are up an average of 6.43% through June,
AR database. That compares to a composite return across all
strategies of 2.65%.
AR asked Josh Weintraub, head of RMBS securities and trading
at Steve Feinberg's $20 billion Cerberus Capital Management, to
discuss the firm's approach to RMBS investing and opportunities
in the market. Weintraub-who will be speaking at the upcoming
Absolute Return Symposium-directs the Cerberus RMBS
Opportunities Fund, which has grown to $1.17 billion as of July
1 after launching in August 2011 with $188 million. The fund is
up 7.79% net of fees for the year through June, according
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