Dallas, Texas 10/02/2013 (Financialstrend) – Fortress Investment Group LLC (NYSE:FIG) on September 5 submitted to SEC as part of regulatory fillings unaudited figures of returns from its liquid hedge funds and credit hedge funds. The period covered by this report was July and August time frame.
Over all returns from its credit hedge funds investments topped the tables with close to 11.25% returns from its Drawbridge offshore fund and a 10.78% gain from its Drawbridge special opportunities fund. These returns were represent Year to date time period ending July ‘13.
Returns from its Liquid hedge funds were less profitable. Its investments into the Asian markets via Convex Asia and Asia Macro fund both registered negative returns of 0.1% and 0.67% respectively. It’s Macro offshore fund to has seen a -1.33% dip in returns. These numbers cover time period of one month ending on August’13. On the other hand the Fortress Partners Fund and Fortress Partners Offshore Fund registered 1.61% and a 1.67% increase in the 30 day period ending July’13. Year to date these two above funds had recorded gains of 1.74% and 3.94% respectively.
Since the announcement of these place keeper numbers, the share has seen an 11% appreciation in value. In the past week it has zoomed up 2.43% with close to 1% gain during trading on October 1. At close of business on October 1, the stock was trading at $8.02 per share. At current valuation, the share price is just a shade lower (2.08%) than its 52 week high valuations. The close to 96% appreciation in stock value over the past 12 months means the share price today is 120% more than its 52 week low pricing. The stock has close to 237 million shares outstanding resulting in a market cap of $1.9 billion. It dividend yield is close to 2.99% over the past 12 months trailing period.