Sunday, 29 November 2015
Last updated 1 day ago
Aug 6 2012 | 12:26pm ET
JAT Capital Management has stopped the bleeding and begun the long climb back to par after a disastrous first half.
The $1.9 billion hedge fund gained 4.7% last month. The return reduced its year-to-date loss, which had been near 20%, to 17%.
July's rise erases the New York-based firm's May and June losses; JAT was down 17% through April.
JAT has been battered this year by its bets on the consumer sector. It's July recovery came in part from its reduction of those damaging holdings.
"The past nine months have been a challenging stretch for me personally and the entire JAT team," firm founder John Thaler wrote. "The strategic decision to expand beyond our core area of focus was costly. The good news, from my perspective, is that when you look at the data, our issues were largely isolated to one thing, which has now been removed."
JAT has suffered some $250 million in redemptions this year.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…