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Saturday, 21 January 2017
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Sep 9 2013 | 12:51pm ET
Cantab Capital Partners' Ewan Kirk admits that he's "had better summers." But has he had any worse?
Kirk's flagship hedge fund, Aristarchus, has suffered through a punishing late spring and summer. The firm posted its worst-ever month in May, losing 8.4%, only to top that mark a month later, plummeting 14.2% in June. Further losses in July and August—of 4.3% and 6.8%, respectively, have left the US$4 billion hedge fund down 27.7% for the year, Financial News reports.
It is a big comedown for a firm used to posting double-digit gains, rather than losses. Aristarchus rose 12.8% in 2011 and 15.3% last year.
"This summer's performance would rank as an unusual event," Kirk told investors. "We continue to invest in research to improve returns."