Woodbine Taken To The Woodshed In June

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.


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