Maverick Battered In August, Loses 11%

Sep 14 2011 | 1:23pm ET

Add Maverick Capital Management to the list of August's hedge fund victims—and add it near the top of that list.

The New York-based firm, like many hedge funds, was hard hit by the market swoon at the beginning of August. But unlike many of its peers, it failed to recoup any of its losses, with its flagship ending the month down as much as it had been near the beginning.

That fund lost 11% last month, leaving it down between 10% and 12.3% on the year, Reuters reports. Another, more aggressive, Maverick fund lost 23% on the month.

Among the culprits for the Maverick bloodbath are Chinese Internet company Youku.com, which Maverick owns about 8% of and which is down 41% this year, Citigroup, down 43%, and First Solar, down 34%.


In Depth

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

Concerned About Your HFT Exposure? Hedge It!

Mar 26 2015 | 1:06pm ET

High-frequency trading has been a persistent storyline for several years. The trading...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note