Tue, Sep 2, 2014
A A A
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. Study shows what resonates with investors: 'Unwavering', 'passionate' beats 'committed', 'dedicated' and more surprises[more]

    Komfie Manalo, Opalesque Asia: A new study by Pershing Square, a unit of BNY Mellon company, showed that an effective value proposition strengthens audience connections and fosters growth, yet many advisors have had little objective guidance in formulating such statements until now. In the

  2. Comment – Why you should avoid the hottest hedge fund hands, Swedroe attacks Hussman over risk management, relative value strategy[more]

    Why you should avoid the hottest hedge fund hands FromCNBC/Yahoo.com: Investors who don't have money with Pershing Square Capital Management are likely salivating at the hedge fund's industry-leading 26 percent return from January through July. But investing with Bill Ackman and other to

  3. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest

  4. Ex-UBS prop trader's hedge fund Manikay Partners eyes UK launch[more]

    From eFinancialnews.com: Manikay Partners, a $1.7 billion US multi-strategy hedge fund set up in 2008 by a proprietary trader from UBS with backing from Goldman Sachs, is planning to open in the UK. New York-based Manikay's move into Europe comes after Financial News revealed on Monday that Aurelius

  5. Big hedge funds tighten grip amid consolidation[more]

    From Asianinvestor.net: The hedge fund industry consolidated last year with the number of funds falling by around a tenth from 2012 but assets under management rising $248.8 billion to $2.6 trillion, finds a new report from research firm eVestment. Firms with more than $1 billion in hedge fund A