Thursday, 21 August 2014
Last updated 11 hours ago
Jul 23 2010 | 1:51pm ET
Harbinger Capital Management’s illiquid assets lost a whopping 10% last month.
The hedge fund’s $2 billion side-pocket is down 14% this year, Bloomberg News reports. The assets, which Harbinger segregated two years ago, lost almost three times as much in June as they lost through the first 11 months of last year, when they fell by 3.6%. At the time they were segregated, the assets in the side pocket made up 35% of the fund’s assets.
Harbinger has returned only about 10% of the side pocket, which it warned could take as long as two years to liquidate. But, almost two years in, Harbinger has not made a second payment to investors, as it planned to do earlier this year.
All told, Harbinger lost 4.8% last month and is down 9.3% on the year.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note