Bottom of the Heap Hedge Funds

July 28, 2015 James Heinsman Hedge Fund News

Here is a quick run-down of some of the world’s hedge funds that barely kept their heads above the flood of bad news coming from China and Greece this past year. US monetary policy doubts did not help the already bad situation for many managers.

The third worst performing fund in 2015 was Crispin Odey’s Odey European fund. Valued at €2.7 billion, the fund was down 14.8 percent in mid-July, according to an investigation of 500 funds by HSBC’s Alternative Investment Group.

Another poor performer, ranked among HSBC’s 20 worst funds, was New York-based Fortress Investment. Fortress’s $1.2 billion Macro fund lost 10.6 percent as of June 30.

Neither hedge fund manager offered a comment on the performance, although Mr. Odey did write in a letter to investors about the poor performance: “Nobody likes looking foolish. Nobody likes losing money,” he admitted.

The winner of the biggest loser award for hedge funds in 2015 is the Amsterdam-based manager HiQ Invest Market Neutral fund. At the end of May the fund had already lost 17.62 percent, losing almost half of its value since January. The fund is  valued at $45 million.

“It will be difficult for them to recover,” Alper Ince, managing director at Paamco, a California-based fund of heged funds, said.

Alper Ince, Crispin Odey, Fortress Investment, HiQ Invest Market Neutral fund, Odey European Fund,

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