Harbinger Down 16% In July

Aug 5 2008 | 9:34am ET

July is shaping up to be one of the worst months for hedge funds in recent memory, and some of the industry’s top performers were not spared the carnage.

Harbinger Capital Partners, the activist hedge fund shop that enjoyed double- and even triple-digit returns last year and was on pace for a similar year in 2008, took a 16% loss in its flagship fund last month, the New York Post reports. The firm, which has profited handsomely by shorting financials and going long oil over since last year, was hurt when financials spiked in the wake of government efforts to shore up mortgage giants Fannie Mae and Freddie Mac, and by oil’s weak performance during the month.

The eponymous $25 billion flagship remains up 27% year-to-date.

Hedge Fund Research’s data shows that hedge funds could be down more than 3% in July, which would make it the worst month in the history of the five-year-old index.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note