George Soros' former credit group has returned over 30% during its first full year of trading. According to Alternative Investment News, a CIN sister publication, through Nov. 30, Camulos Capital's $1.6 billion Camulos Partners fund has returned 30.6%, according to data kept by the Swiss private bank Syz & Co. After spinning off from Soros Fund Management a year ago, the multi-strategy fixed-income play launched in November has amassed an annualized return close to 27%. A spokesman for the firm declined to comment.
Indices that track fixed-income strategies are significantly lower by contrast. Year-to-date, Hedgefund.net's HFN Fixed Income (Non Arbitrage) Average has returned 6.32%; HFN Fixed Income Arbitrage Average 7.92% and HFN Distressed Average 13.13%. In comparison, Cliff Viner's $1.4 billion III Fund returned 5.7% through Nov. 24; Vega Asset Management's $1.8 billion Vega Relative Value Fund was down 41 basis points through Nov. 17 and Mark Fishman's $1.5 billion Sailfish Multi-Strat Fixed Income Fund returned 9.69% through Nov. 24.
Some of the fund's alpha is likely due to an esoteric strategy: aircraft-backed securities, which it had begun trading last winter.