Oxford Funding Corporation announced that the company launched the road show this week for its hedge fund, the Oxford Opportunistic Mortgage Fund.
The hedge fund’s strategy is to hold, modify if necessary, and liquidate the mortgage assets at significant gains. The hedge fund and its investors will participate in the yields generated during the holding period, and from gains on the sale/liquidation of the mortgage assets.
Robert Dunn and Ron Redd, President and CEO of Oxford Funding, will begin the road show this week in New York. “We are making money for our current investors,” noted CEO, Ron Redd. “We expect investors to continue to seek the type of returns we have proven to our current investors,” he added. “Our strategy protects investors from the down market. We are the right answer at the right time,” he concluded.
The hedge fund has already received its first group of investors and has purchased its first mortgage loan portfolio at a steep discount to current appraised value.
“Our fund is the way for investors to protect themselves from the news we hear every day in this industry. Freddie Mac and Fannie Mae reported a total of $6.2 billion in losses for the fourth quarter of 2007 and predict multibillion-dollar losses for 2008. Even companies like American International Group and Ambac Financial Group who insure mortgage debt are getting hit hard,” concluded Mr. Redd.
Oxford Funding Corporation is a publicly traded asset resolution company specializing in the purchase and management of bulk mortgage loan portfolios. Senior management at Oxford has facilitated rehabilitated loan sales in excess of One Billion Dollars, traded billions of dollars of financial assets as principal and agent, and has established relationships with hundreds of financial institutions and loan investors nationwide.
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