Thursday, 3 September 2015
Last updated 42 min ago
Jun 6 2011 | 3:08pm ET
Add Ping Capital Management to the list of usually sure-footed hedge funds to take a big step back in May.
The New York-based firm, headed by former SAC Capital Advisors trader Ping Jiang, saw its Exceptional Value Fund drop 5.6% last month, Dealbreaker.com reports. The $155 million fund is still up 7.64% on the year.
May was the second losing month for Ping in 2011; the fund had previously returned 7.11% in January, lost 0.59% in February, rose 3.86% in March and added 2.3% in April.
Exceptional Value rose 105% last year and 193% in 2009. The firm launched its second hedge fund, an emerging markets macro fund, in January; it returned 4.8% in the first three months of the year.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…