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SkyBridge Funds Report 17.4% Profits

SkyBridge Capital’s hedge fund of funds disclosed a net 17.4% profit in 2010.

SkyBridge Capital’s hedge fund of funds disclosed a net 17.4% profit in 2010, The Wall Street Journal reports. The asset manager’s Multi-Adviser Hedge Fund Portfolios performance beat the 15% gain in the Standard & Poor's 500 Index last year.

The fund’s returns were led by gains from its agency and non-agency prime mortgage backed securities exposure. The vehicle invested in around 37 hedge fund managers across a range of strategies, including convertible arbitrage, macro, distressed, long/short equities and fixed income arbitrage.

Click here for the story from The Wall Street Journal.

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