Allocators skeptical of still-bullish mortgage hedge funds

By Lawrence Delevingne

Thu May 9, 2013



After hefty gains, SkyBridge and FRM are reducing their exposure.


 
  Troy Gayeski
(Photo: Lawrence Delevingne)

LAS VEGAS -- While mortgage hedge funds are strongly convinced that their strategy will continue generating large profits, some investors are pulling back.

"There's no way guys can make as much money, and with home prices starting to rip, there could be more downside," said Troy Gayeski, a partner and senior portfolio manager at SkyBridge Capital, at the...

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