Seer Capital Management LP, the investment firm headed by Philip Weingord, Deutsche Bank AG's former head of global markets in the Americas, has also said hedge funds focusing on securitized debt should be attractive to investors because fewer money managers have expertise in the sector.
The main hedge fund run by New York-based Seer, which oversees $400 million in assets, gained 9.2 percent in the first four months of this year, after a 24.9 percent return last year, according to a monthly letter to investors.
Seer's best-performing investments in April were in unusual asset-backed securities and collateralized loan obligations, which pool leveraged loans and slice them into securities of varying risk, according to the letter. That reflects "our capability to identify opportunities across subsectors" of securitized debt beyond just residential- and commercial-mortgage securities, Seer said.