Hedge fund holding firm HFA Holdings has returned to profitability after the credit crisis with a $4.7 million profit as it broadens its business model into other actively managed products. The turnaround was attributed to large non-cash impairments and write-downs of $599.53 million related to the acquisition of Lighthouse Partners in 2008, which affected 2009 accounts through a $573.2 million loss.Jane Searle

Macquarie Group is to sell its first mortgage-backed securities in more than two years through a $500 million issue. The transaction will be supported by government via the Australian Office of Financial Management’s scheme to support the mortgage market through the purchase of RMBS, according to the office’s website. The securitisation of full documentation mortgages is the first from Macquarie Securitisation’s PUMA program since it recommenced originating loans in October 2009.
Jonathan Shapiro