In credit, the historically slow business of evaluating price against the risk of default, that speed can be disruptive. Diameter’s $6.4 billion hedge fund has bested most of its peers with annualized returns of 13% and minimal volatility since its start on Sept. 1, 2017. This year, the fund is up 9.5% through August, or 14.6% on an annualized basis. Assets across all the firm’s strategies have swelled to more than $9 billion.
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