Canyon Capital Boosts Cash Again; Sells $200M Of RMBs

Canyon Capital Advisors, managed by Mitchell Julis and Joshua Friedman, has increased its cash holdings yet again as it sees the rest of the market growing ever more complacent about the prospects of low interest rates extending well into the future, according to a letter to investors reviewed by ValueWalk. In the Canyon Value Realization Fund’s (CVRF) quarterly letter we found out that its cash position had already gone up to 14% of assets, compared to 6% of assets a year earlier, and just one month later that has been increased to 17%. The CVRF is up 0.46% in May…