64 days ago • Posted by William Ramstein
Winners and losers at hedge funds
Directional bets as investors dumped risky assets in favour of havens in February and March were some of the most lucrative trades. Mr Law’s Caxton made a record 40 per cent gain, boosted by bets on government bonds, according to an investor, while Brevan Howard gained 24 per cent.
Billionaire Michael Hintze suffered a $1.4bn loss, driven by bad structured credit bets, in his flagship Directional Opportunities fund. He gained nearly 9 per cent in November, reducing losses this year to about 36 per cent, according to an investor update seen by the Financial Times. Source: FT.com