It’s been a year to forget for investors in AQR Capital Management’s flagship fund, and things are getting worse before they get better.

The Greenwich, Conn.-based quantitative hedge fund giant, already battered—like many of its quant brethren—by market turmoil in July, and again in October, saw its $4 billion AQR Absolute Return Fund drop another 5.8% last month. The losses in the fund leave it down 11.9% year-to-date, the New York Post reports.

AQR, which manages $11 billion in hedge fund assets and $25 billion in long-only funds, is used to double-digit returns, rather than double-digit losses. The firm had reportedly been pondering an initial public offering earlier this year, before the subprime crisis spread to the broader market, sending its flagship down 13% in early July. The fund recouped about half of those losses, but declined another 3.2% in October.