Blue Mountain Disappointed In Q1 But Bounced Back In April As PG&E Volatility Continues (Scoop)Michelle Jones
Blue Mountain Credit Alternatives Fund sent its first-quarter letter to investors recently. The fund was down 3.93% net for Class S and 3.81% net for Class L. Fund management blamed "a combination of idiosyncratic, unrelated events and the underperformance of the Systematic Equity Strategy" for the disappointing returns. However, the fund did better in April with a 2.16% net gain for Class S and 2.2% gain for Class L. Blue Mountain is now down 1.85% and 1.69% for the two classes respectively, year to date.
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