Drake, Highbridge Post Big Losses In Key Funds

Nov 30 2007 | 12:03pm ET

A pair of high-profile New York hedge funds is singing the blues as big losses over the past two months have wiped out their year-to-date gains.

JPMorgan Chase’s Highbridge Capital Management saw its Event Driven Relative Value Fund plunge 12.78% in the first two weeks of November, the New York Post reports, citing figures from HSBC. The $748 million fund was reportedly burned by widening spreads resulting from collapsed leveraged buyouts, and is now down 6.74% year-to-date. The fund had weathered this summer’s credit crunch, and was up 10% in late October.

Meanwhile, Drake Capital Management is smarting after a 10.5% drop in its flagship Global Opportunities Fund last month. The $3.91 billion macro fund, which returned 41% last year, is now down 9.91% this year.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of