Sunday, 21 December 2014
Last updated 1 day ago
Apr 4 2014 | 10:21am ET
March proved quite the lion for several prominent hedge funds, mauling them and leaving them battered and bloodied and nursing first-quarter losses.
Andor Capital Management, Discovery Capital Management and Coatue Management all suffered major drops in March, a month that saw the average hedge fund fall fractionally.
Technology-focused Andor was hardest hit, plummeting 18% last month, The Wall Street Journal reports. Thanks to strong performance earlier in the quarter, the $1 billion Rye Brook, N.Y.-based firm is down only 5% through 2014's first three months.
Discovery's flagship dropped 9.3% in March and is off 7.1% through the month. Both of the $15 billion firm's funds were down in the first quarter, and are now reducing risk after what founder Robert Citrone called a "perfect storm" in March.
Citrone's fellow Tiger Management alumnus, Philippe Laffont, didn't weather that storm much better. Laffont's Coatue sank 8.7% last month and is down 7.4% on the year. Coatue manages $1 billion.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.