Wednesday, 28 January 2015
Last updated 2 hours ago
Jul 2 2013 | 2:28am ET
June proved a month to forget for Greenlight Capital.
The firm’s gold hedge fund plummeted 11.8% last month and is now down 20% on the year, Reuters reports. The gold fund had $929 million in assets under management at the end of March.
Greenlight also suffered losses in its $8 billion flagship, albeit much more modest ones. The fund dropped 1.1% last month, but is up 7.4% on the year.
And while it may be cold comfort for Greenlight and founder David Einhorn, things could be worse: Paulson & Co.’s Gold Fund was down 54% through May—before the June swoon in the metal’s price that so badly burned Greenlight.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…