STS Partners Fund: Deer Park Road Corporation

Winner: Best fixed income/credit hedge fund


Michael Craig-Scheckman, founder and president of Deer Park Road Corp and portfolio manager of the STS Partners Fund, likens his investment strategy to running a "bond junkyard".

As a deep value investor specialising in distressed mortgage and asset-backed fixed income securities (MBS and ABS), he says his job is to "sort through the wrecks and find the salvageable parts".

Craig-Scheckman looks to buy high-yielding distressed MBS and ABS securities at deep discounts to what he thinks they are

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