Tuesday, 7 July 2015
Last updated 4 hours ago
Dec 17 2007 | 3:24pm ET
Investors are fleeing Tudor Investment Corp., as the Greenwich, Conn.-based hedge fund has posted less-than-stellar returns this year.
Tudor’s Raptor Fund has been hit with $1 billion in redemptions, with the once-$8 billion fund suffering an 8.5% decline through November. Last month alone, the equity long/short fund lost 3.1%.
Things are not much better at the firm’s flagship BVI Fund. Posting just a 2.5% return through the third quarter, the fund is now up 5.5% through last month, “well below our targeted new return of mid- to high-teens,” founder Paul Tudor Jones told investors in an Oct. 25 letter. Jones said he has considered slashing the fund’s asset level—currently $10 billion—to improve returns, and says the fund is adding a “more dynamic hedging program” to protect against downswings.
He added hopefully, “BVI has shown an average fourth-quarter next return of close to 7%.”
But Jones isn’t letting the trouble dent his holiday spirit. As he’s done for years, the billionaire has transformed his palatial waterfront estate in Greenwich into a winter wonderland.
Through Dec. 20, visitors to the gated community will be treated to a Christmas light show. This year’s “dreaming of Christmas” spectacular features toys, candy and snow in lights; Jones pays off-duty police officers to wave as many as 200 cars each night through exclusive Belle Haven to see the display.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…