Securitized credit funds were up 3.10 percent for the first two months of 2013 and 20.64 percent in fiscal year 2012, according to new research.
eVestment discloses this finding in an April 2013 report on securitized credit. The report draws upon eVestment’s research database of 179 hedge funds, which invest primarily in the securitized credit markets.
Securitized credit products include asset and mortgage backed securities (ABS and MBS) and sub-classifications for residential and commercial real estate mortgage products (RMBS and CMBS). The report also tracks exposure to derivative securities such as collateralized mortgage, debt and loan obligations (CMO, CDO and CLO).
Among securitized credit strategies, those that operate predominantly in the ABS markets showed the best year-to-date performance, up 5.08 percent, the report states.
Agency-only MBS funds continue to underperform against nonagency-only MBS funds. Agency MBS strategies were up 0.42 percent year-to-date, versus 3.27 percent for nonagency strategies.