The two biggest funds at Boaz Weinstein's Saba Capital are down by more than 10% this year.
According to HSBC's weekly report, the flagship fund has lost close to 12%.
Weinstein came into 2023 bearish about the economy, which has been resilient despite rising rates.
Saba Capital — the $4.8 billion hedge fund manager run by Boaz Weinstein — hasn't had the best year.
Two of its funds — the flagship and a more hedged version — are down 11.9% and 10.6%, respectively, through November 10, according to the latest edition of HSBC's Hedge Weekly.
Persons:
Boaz Weinstein's, Weinstein, Boaz Weinstein — hasn't, —
Organizations:
Saba, HSBC's, Financial Times, Federal Reserve, Business
Locations:
Boaz Weinstein's Saba, Saba Capital, New York