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May 22, 2019  

Banner Year for Mortgage Fund

A fund operator that invests in deeply distressed home loans has far exceeded its return target and capital-raising expectations.When it started investing outside capital in April 2018, DRI Fund of West Palm Beach, Fla., told limited partners it hoped to generate annual returns of 14-17%. But in its first 12 months of trading, the firm’s DRI Mortgage Opportunity Fund delivered a net return of 48%.Its assets, meanwhile, have swelled to $150...

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