Sudden losses show MBS no longer a free ride
By Rob Copeland
Mon Jun 17, 2013
Mortgage funds split into winners and losers; GS Gamma, Metacapital, Napier Park, SPM, West Side Advisors lag.
| Fund name||May ||YTD|
|BTG Pactual Distressed Mortgage Fund|
|Canyon Structured Assets Fund |
|Tilden Park Investment Fund|
|TIG Securitized Asset Fund|
|Premium Point Mortgage Credit Fund|
|Halcyon Asset Backed Value Fund|
|Axonic Credit Opportunities Fund|
|Providence MBS Fund|
|Pine River Liquid Mortgage Fund|
|Napier Park Mortgage Credit Opportunity Fund|
|West Road Advisors Master Fund|
|GS Gamma Investments (Guggenheim) Fund|
|Metacapital Mortgage Opportunities Fund|
|SPM MBS Agency Fund|
|Source: Absolute Return reporting. |
Some of the hedge fund industry's most lauded recent success stories met with starkly different results in May, with several mortgage-focused funds suffering large losses while others continued to profit as if nothing had changed.
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