That includes Harbinger, which the Financial Times notes lost 12% in the first 2 1/2 weeks of July, and Clarium, down 4.3% for the month to July 18. Both funds are said to still be up strongly for the year though. Hedge funds that have gotten hit the most were the many who piled into the long commodities / short financials bets. And one of the worst performers is said to be RAB Capital's hedge funds. Their Energy fund was down 16.1% by mid July and down 25.2% year to date; the company's $2 billion Special Situations fund got smacked to the tune of 11.4% and it's down 31.8% year to date...
“One of the things that’s obvious with the financials/resources trade is that everybody had it on,” said Paul Meader, director of Guernsey-based hedge fund investor Corazon Capital.
“There are quite a few people who are hurting this month.”
Clarium and Harbinger may be feeling pain but their spectacular performance this year will shield them from investor anxiety.
Hedge funds have worst month since 2000 - Financial Times
Hedge Funds May Post Worst Month in 5 Years as Bank Bets Sour - Bloomberg
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