Balyasny Up 5% YTD; Leverage Nears 500%

While second quarter returns were still low, performance at Balyasny Asset Management L.P. (BAM) started to pick up again in June, according to its second quarter investor’s letter, a copy of which was reviewed by ValueWalk. The Atlas Global Strategy fund (AGI) is up 4.65% through July 25 including a 1.05% gain in June and a 0.53% gain for the second quarter as a whole, compared to its 12.96% return in 2013. The Atlas Enhanced Strategy fund (AEF) followed a similar pattern, up 8.33% through July 25 including a 1.65% gain in June and a 0.83% for Q2 compared to 20.86% returns in 2013. The letter also said that returns were 93% attributable to alpha, as opposed to...