CVRF Looks To Activism, RMBS For 2014

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Mitch Julis and Josh Friedman’s Canyon Value Realization Fund Ltd (Class A shares) had 3.59% returns for the fourth quarter and 15.55% in returns for 2013 (both net fees) with a gross internal rate of return (IRR) of 27% and volatility of just 4.1%, compared to 8.5% for the S&P 500 (INDEXSP:.INX), according to a shareholder letter reviewed by ValueWalk. While its total returns didn’t keep up with the S&P 500’s incredible year, its stock portfolio outperformed the market and the fund generated alpha in multiple asset categories. CVRF sees few obvious options for next year “Investors searching for ‘the next…

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