Highbridge Funds Fall Double-Digits In Oct.

Nov 6 2008 | 10:28am ET

Highbridge Capital Management, the giant JPMorgan Chase-owned hedge fund, is not having a good year.

At least three of the firm’s funds posted double-digit losses during a disastrous October, according to e-mails to investors obtained by Wall Street blog Dealbreaker.com. The firm’s Convertible Arbitrage Fund plummeted 23.75% last month, leaving it down 37.33% on the year. Also posting big losses are the Asia Opportunities Fund, which lost 14.79% in October (down 32.44% YTD) and Highbridge Capital Corp.’s New Issue Restricted share classes, which fell 12.77% on the month (down 25.34% YTD).

The firm’s losses are due—as the catastrophic drawdown in its convertible arbitrage fund indicate—in no small part to big declines in convertible bond holdings. Highbridge said in at least one e-mail that its October letters will be posted on its Web site shortly.

Not all Highbridge investors are suffering this year. The Statistical Opportunities Fund’s Class A & C actually adding 2.51% in October, and is up 10.61% on the year.

ATTN READERS: If you should get the actual letter from Highbridge or any other fund that you'd like to share with our readers, please email us at hedgefundtips@finalternatives.com. All identities will be kept in strict confidence--we take the Judith Miller approach to protecting our sources.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...