Sun, Oct 23, 2016
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Deer Park Road’s mortgage fund up 23.5% YTD, closes to new investors

Monday, November 19, 2012

Benedicte Gravrand, Opalesque Geneva:

A U.S. distressed real estate fund is doing very well so far this year, and its manager believes there are still opportunities in the mortgage market. And after receiving inflows of some $40m, the fund will close to outside investors on December 1st.

The STS Partners Fund, which invests in MBS and ABS, returned 3.02% net in October, compared to -1.85% for the S&P 500 TR (total return). The Fund is up 23.55% YTD versus 14.29% for the S&P. And since its May’08 inception, the Fund has achieved a compound annualized ROR of 30.41% versus 2.69% for the S&P 500 TR.

The HFRI Fixed Income-Asset Backed index is up 1.25% (est.) in October, up 14.35% YTD. And the HFRX Fixed Income-Credit Index is up 0.23% (est.) and up 5.04% YTD.

The Fund invests through fundamental analysis and security selection without using leverage, by focusing on deeply discounted, shorter-term, high cash flow MBS/ABS. It is currently in Opalesque’s ASquare database. It is managed by Deer Park Road Corporation, a Colorado-based multi-fund investment manager focused exclusively on investing in distressed real estate and asset backed fixed-income securities.

According to a monthly fund report sent to Opalesque by an investor, October’s performance was essentially a repeat of September (+3.97%), where......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. M&A - U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga, Hedge fund Parvus shows hand, toppling William Hill merger deal[more]

    U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga From The fierce battle to buy Britain's biggest private equity group has come to an unexpected conclusion, with the original bidder walking away with the prize. SVG Capital has agreed

  2. Marc Lasry: Energy is still a phenomenal opportunity[more]

    From Distressed debt specialist Marc Lasry said energy debt is still a "phenomenal opportunity" because investors can get "massively overpaid" for the risk they take on. There are "huge opportunities" in the energy sector especially in restructurings, the Avenue Capital Group CEO said Tues

  3. Opalesque Exclusive: Ex-SAC manager re-emerges with market neutral hedge fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A manager re-emerged from the SAC battleground last year to launch his own hedge fund under the umbrella of New York-based investment firm Endicott Group.

  4. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  5. Macro hedge funds up 3.3% in one week on Fed and Brexit pays off[more]

    Komfie Manalo, Opalesque Asia: Hedge funds were boosted by the strong performance of global macro funds, with the Lyxor Global Macro Index gaining 3.3% as of the week ending Oct. 11 (-1.7% YTD), Lyxor Asset Management reported. Their short on the p