Harbinger Battered In June, July, Now Down 10.7%

Aug 3 2010 | 12:48pm ET

A year that began with such promise for Harbinger Capital Management has turned very, very sour very, very fast. The New York-based hedge fund was down more than 10% through the middle of last month, making its flagship among the 20 worst-performing hedge funds of the year, according to HSBC Private Bank.

Most of the losses for Harbinger Capital Partners Offshore Fund I were suffered over the last six weeks; the fund was still up 4.2% through June 15. Now, however, it is down 10.7% through July 15, and its assets under management have slumped from $6.7 billion to $3.8 billion.

Nor are the losses limited to the $10 billion firm’s flagship. Harbinger’s $2 billion side-pocket of illiquid assets is down about 14% this year.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.