Saturday, 30 May 2015
Last updated 14 hours ago
Jul 20 2012 | 2:13am ET
Inundated by redemptions and down to just one co-founder, Woodbine Capital Advisors isn't getting any help from the markets.
The New York-based hedge fund saw its year-to-date gains wiped out last month. The fund, whose assets have plummeted from $1.2 billion to just $500 million this year, lost 2.2% in June, ValueWalk reports, leaving it down 1.5% on the year.
The losses came on European and currency investments, notably a short position on the euro.
Woodbine, which managed $3.2 billion just two years ago, lost 12% last year and shook up its staff. It followed up that loss with the loss of co-founders, Richard Corsden and Marcel Kasumovich, leaving only Joshua Berkowitz, a former Soros Fund Management trader.
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…