Posted on 07/23/2017 1:24:53 PM PDT by 11th_VA
BOSTON (Reuters) - One of President-elect Donald Trump's top liaisons to Wall Street's business elite launched a mutual fund three years ago for mom-and-pop investors that lags most of its peers.
Hedge fund impresario Anthony Scaramucci, 53, has secured a top White House job as an adviser and public liaison to government agencies and businesses. He said on Tuesday he would sell his stake in SkyBridge Capital after growing the investment firm to more than $12 billion in assets in little more than a decade.
Known affectionately as the "Mooch" in the financial industry, Scaramucci joins former Goldman Sachs mortgage bond trader Steve Mnuchin and distressed investor Wilbur Ross as they are picked a Trump cabinet members and pause their pursuit of private wealth for government service.
SkyBridge's $480 million SkyBridge Dividend Value Fund has lagged 80 percent of its peers over the past year, with its A-class shares posting an 18.83 percent total return, according to Lipper Inc, a unit of Thomson Reuters. It ranks 433rd out of 519 funds.
Peer funds, on average, have done much better with a 1-year total return of 23.94 percent.
(Excerpt) Read more at businessinsider.com ...
Chelsea Clinton’s husband’s fund lost 100% of his investor’s money and went bankrupt.
Sign me up for 18%, please. Guy sounds like he knows what he’s doing.
Then it is good he changed jobs..........next
If it’s above average, obviously political strings have been pulled to help one of Trump’s friends.
If it’s below average, obviously Trump’s friends are morons who should not be involved in government.
If it is precisely average, there’s always Russia to talk about.
I don’t think you read beyond the title. The writers managed to get the phase ‘Losing 80%’ in the title of a story about a mutual fund that made over 18% last year.
When writing a stupid article is too much for just one moron...
When writing a stupid article is too much for just one moron...
It’s just his turn. America will never be the same.
Oh, wow! Only 18.83% profit? /s
They hate us when we win, they hate us when we lose. Why not drop the pretense of “news” and just concentrate on the hate? They’ll destroy themselves faster that way....
Quick work, cranking out the obligatory hit piece less than 48 hours after his appointment...
Jon Corzine lost $16 billion of investors money which he couldn’t explain and never spent a minute behind bars..
Let’s see he grew the investment firm to more than $12 billion in assets in little more than a decade, but the big news is that it only pays a hair under 19% @ 18.83% and it is 433rd of 519 funds. So what is this story actually trying to tell me? Oh absolutely nothing, I get it. More fake news.
No mention Hillary’s brilliance at cattle futures?
more bias:
“distressed investor Wilbur Ross”
which reads to many Ross was a losing investor...couldn’t be farther from the truth...
I believe this fund is SkyBridge Dividend Value Fund Class A (SKYAX). It was launched in 2014. Morningstar site has slightly different numbers: it got 13.1% last year while its category got 14.81%. Rank is 68/100. High expense ratio of 1.25. YTD is 1.07%
It is bringing in 2.7% in dividends which is good. So it is not terrible just not as good as many others.
I’ll take 18% any day.
Not only did Chelsea Clinton’s husband lose 100% of his investor’s funds, the circumstances surrounding the investment were suspicious.
- her husband’s father was an investment broker and spent time in jail for some sort of fraud. Perfect qualifications for a crime family, and it appears the apple didn’t fall far from the tree.
- her husband’s investment dealt with Greece. He told investors that Greece would be bailed out and recover, promising vast returns, using the influence of his mother in law.
- didn’t turn out as planned, and many lost their shirts.
No story here of course; move along or you too may face Arkancide someday soon.
And he was punished for his incompetency with another cushy job
http://freebeacon.com/politics/chelsea-clintons-husband-joins-silicon-valley-based-investment-firm/
18% return?
What a loser.
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