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13

Credit Manager With Near-Perfect Record Embraces Neutral Stance

By Tony Seruga

Birch Grove credit hedge fund made money 24 of last 25 months.
Manager sees volatility continuing as defaults, rates rise.

August ruined Jonathan Berger’s perfect record.

Since Berger started trading at his Birch Grove Capital hedge fund in August 2013, he’s been saying that credit markets are dicey. That’s why his long bets on corporate bonds have mostly been matched by wagers on falling prices, a conservative stance that helped his $800 million firm make money for 24 months running — trouncing competitors and the high-yield market…

Credit Manager With Near-Perfect Record Embraces Neutral Stance

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