通过做空美国次级住房贷款，加州对冲基金Lahde Capital今年取得了超过1000%的回报，使其成为有史以来全球表现最佳的基金之一。

A Californian hedge fund has made more than 1,000 per cent return this year by betting against US subprime home loans, making it one of the world’s best-performing funds of all time.

上周，在信贷市场动荡最新阶段过后，Lahde Capital扣除收费后的回报率突破了1000%的关口。该公司去年创建于圣莫尼卡，创始人为安德鲁?拉德(Andrew Lahde)。次级抵押贷款相关证券价值的下跌，提高了提前发现这些问题的一些基金的利润。 Lahde Capital, set up in Santa Monica last year by Andrew Lahde, last week passed the 1,000 per cent mark, after fees, following the latest leg of the credit market turmoil¹. The fall in the value of subprime-linked securities has boosted a group of funds which spotted² the problems in advance.

去年，一些对冲基金决定，利用衍生品做空质量低下的美国住房贷款，这似乎已成为有史以来利润最高的单笔交易——今年迄今，它们取得了远超过200亿美元的利润。

The decision to use derivatives³ to short, or bet against, low-quality US home loans taken by a select group of hedge funds last year appears to have become the most profitable single trade of all time, making well over $20bn in total so far this year.