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’Sell in May… Hedge funds hit hard
An end of May snapshot…
Tudor BVI Global MTD (2.26%) YTD: (0.49%)
Moore Global MTD: (9.15%) YTD: (6.17%)
Lansdowne UK Equity MTD: (3.98%) YTD: 1.07%
BlueTrend MTD: (8.3%) YTD: 1.49%
Viking Global Equities MTD: (3.2%) YTD:
Tudor forced to suspend withdrawals and reorganise
This feels serious – and not just because of the size of Paul Tudor Jones’ flagship $10bn Tudor BV fund.
The real point is that Tudor is down just 5 per cent year-to-date, albeit 12 per cent from the high water mark in June.
Hedge funds hit by August losses
Some of the grandest names in the hedge fund world suffered last month having failed to anticipate market turmoil and failing to produce the absolute returns they promise investors. The list of badly-hit hedge funds in August reads like a “Who’s Who”
UK buy-out firm leads $5bn chase for Merck arm
Greater Pacific Capital, a London-based private equity group set up by former Goldman Sachs bankers, has emerged as a surprise front-runner in the $5bn race for the generic drugs arm of Merck, of Germany,
Hedge funds learning to play political ball
Tudor Investment is setting up a political action committee (PAC), the first hedge fund to make such a move, writes the Wall Street Journal. This comes just as industry practices fall ever further under the political spotlight and industry executives find themselves flavour of the month among US presidential hopefuls seeking funds for their campaigns.
Defensive stance helps shield hedge funds
Many of the world’s biggest hedge funds have emerged largely unscathed from this week’s turmoil in the markets, with well-known managers such as Paul Tudor Jones’ Tudor Investments, Louis Bacon’s Moore Capital,