Sunday, 28 December 2014
Last updated 3 days ago
Feb 15 2008 | 8:00am ET
Hedge funds had a rough start to the New Year, as volatile global equity markets put a few big-name funds in the red. Among their unfortunate ranks, FINalternatives has learned, is New York-based Atticus Capital, which dropped 12.5% in January.
Atticus was hurt by its bets on Freeport-McMoRan Copper & Gold and ConocoPhillips.
Copper producer Freeport-McRohan and refiner ConocoPhilips dropped 15% and 20%, respectively, in January. In addition, a source with knowledge of the situation said Atticus was also hurt by its holdings in Sears and Bidu, which provides Chinese language Internet search services.
All told, the losses cost Atticus investors some $3 billion.
Atticus, headed by Timothy Barakett, manages more than $21 billion and runs a concentrated portfolio of some 15 names. The firm’s Atticus Global Advisors Fund gained 25% last year.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.