PivotalPath Research

A Junk Rally in Hedge Funds?

Published 17 April 2019

What if we told you that one risk factor can explain most of the significant dispersion in returns in the first quarter of 2019? That factor is the Bloomberg US Pure Leverage Portfolio (“Leverage”), a measurement that tracks U.S. companies that are highly indebted, or leveraged. Put another way, it is a measure of quality.

Read the full piece ↓