Goldman Vet Siva-Jothy Shutters Hedge Fund

Feb 16 2011 | 9:02am ET

Christian Siva-Jothy is closing his London-based SemperMacro Fund due to “poor performance.”

Bloomberg, citing a letter Siva-Jothy sent to the fund’s clients, says the former co-head of proprietary currency trading at Goldman Sachs Group will return money to investors.

The fund is down 2.3% for the year, having lost 8.7% in 2010 and 27% in 2009, according to the letter. Siva-Jothy has liquidated all the fund’s positions bar one option trade.

“In this business you are only as good as your last few trades,” Siva-Jothy wrote. “Mine have not been very good. Whether I have lost my edge or simply need a break after 23 years I am not sure, but I certainly hope it is the latter.” Siva-Jothy said in the letter he misjudged financial data and the impact the Fed’s efforts to jumpstart the U.S. economy would have on world markets.

The fund, which bets on currencies and equity markets, managed almost $200 million when Siva-Jothy decided to close it, Stefan Pollmann, a partner at the firm, told Bloomberg.

 


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...