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Saba Hedge Funds Focused On Closed-end Credit Suffer 2018 Losses

by bloomberg.com posted 12months ago 61 views
Boaz Weinstein’s hedge funds that invest in closed-end credit strategies have posted losses this year. The market-neutral Saba Capital CEF Opportunities 2 dropped about 7.5 percent in the first seven months of the year and fell 2.6 percent in July, according to an investor letter seen by Bloomberg News. The long-only Saba Capital CEF Opportunities 1 rose 1.5 percent in July and declined 2.6 percent for the year. Saba Capital Management, which manages about $1.4 billion, has historically made money in its main fund exploiting the price differences of related credit securities.

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