Sunday, 23 November 2014
Last updated 1 day ago
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.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
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