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Alternative Market Briefing

As fund of fund assets grew $1.5bn in 18 months, Skybridge looks at opportunities in the MBS market

Thursday, November 29, 2012

From Komfie Manalo, Opalesque Asia:

Research driven alternative investment firm Skybridge Capital with approximately $6.7bn in assets saw its fund of fund assets grew by more than $1.5bn over the past 18 months and its Partner and the CEO Europe for SkyBridge Max von Bismarck is looking at opportunities in mortgage-backed securities that he described as attractive again.

As one of the panelists in the latest Opalesque 2012 Zurich Roundtable Von Bismarck said that Skybridge’s main positioning is with cash flow generative strategies that do not purely rely on mark to market appreciation. "For example, over the past two to three years we found the U.S. mortgage markets particularly attractive. One of the largest themes in our portfolios is the prepayment-sensitive MBS (mortgage-backed securities) markets, a super liquid $7tln market with very low hedge fund penetration of probably less than 1%. The market is mainly dominated by long-only mandate constrained players. We saw very interesting opportunities in terms of the carry streams and if we look at the last two years, this has been a major uncorrelated strategy that also generated attractive returns for us."

The Opalesque 2012 Zurich Roundtable was held in the office of Eurex and was sponsored by ......................

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