Opalesque – One of only a handful of bright spots in an otherwise dismal month of May was the performance of fixed income hedge funds – mortgage backed funds in particular. The top three funds in this strategy, as ranked by BarclayHedge have had strong performance through 2011 with the top ranked Midway Market Neutral Fund delivering +15.05% through April (and an additional +3.75% (est.) in May).
Following close behind are the Providence MBS offshore fund +12.84% through April, and the Metacapital Mortgage Opportunities Fund, which was up 16.01% through April.
