Highbridge Hedge Fund Assets Fall

May 13 2014 | 12:15pm ET

JPMorgan Chase remains the second-largest hedge fund manager in the world. But its best-known hedge-fund unit, Highbridge Capital Management, isn’t helping.

Highbridge’s assets have dropped sharply since 2007, from $37 billion to $24.5 billion. Its hedge fund assets have fallen steadily since 2011, and now total just $12 billion—down from $36.7 billion in July 2007.

The firm’s flagship Multistrategy Fund’s performance has been uninspiring, as well: It hasn’t returned double-digits in the last four years, and has underperformed the Standard & Poor’s 500 Index in each of those years, CNBC reports.

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