(Bloomberg) In a disappointing year for hedge funds that invest in the riskiest debt, one distressed firm — Mudrick Capital Management — is flying high. Mudrick Capital’s flagship hedge fund handed investors a 26.8 percent return in the first seven months of the year, according to a person with knowledge of the matter. U.S. corporate debt yielding 10 percentage points over Treasuries gained 31 percent over that period, Bank of America Corp. indexes show, while distressed hedge funds rose 3.5 percent through June, according to the latest data from Hedge Fund Research Inc.
Mudrick Said to Gain 27% Beating Distressed Hedge Fund Rivals
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