Citrone's Funds Take March Beating

Apr 7 2014 | 9:08am ET

Hedge fund billionaire Robert Citrone was probably glad to turn the calendar page after a brutal March for his flagship funds.

Citrone's Discovery Global Opportunities Fund was down 7.46% in Q1 and his Discovery Global Macro Fund down 9.17%  after each fell some 10% in March, according to Forbes.

It's a sharp reversal for Citrone, who was one of the few hedge fund managers to give the S&P 500 a run for its money in 2013, returning about 27%.

Citrone—one of Julian Robertson of Tiger Management's famed 'Tiger cubs'—launched Discovery Capital Management in 1999. His worst year—2008—saw his Discovery Global Opportunities Fund shed 33% while his Discovery Global Macro Fund was down slightly in 2011.

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