U.S. tech-focused hedge funds brace for heavy losses amid market slide

U.S. hedge funds that focus broadly on technology investments are bracing for heavy losses this year as gloomier economic data sparked a fresh selloff this week, shrinking hopes of clawing back any significant ground in coming months.

Other prominent fund managers, including some who got their start with the recently deceased Julian Robertson, credited with helping pioneer making money when stocks fall, are also in the red. Coatue Management lost 17% in the first eight months of the year while Maverick Capital is off 27% through August.“I’ve been through 9 bear markets and they absolutely suck,” said Anthony Scaramucci, managing partner of investment firm SkyBridge Capital and founder of the three-day SALT conference.

For many of these funds this year’s losses come after a string of strong returns fueled by a decade long bull market, investors and fund managers said.Citadel reported that its Wellington fund returned 3.74% in August, bringing its year to date returns to 25.75%. DE Shaw, in its Composite fund, reported a 20% gain to investors. Representatives for the firms declined to comment.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Why yesterday's market carnage — the worst rout in more than two years — wasn't so scary after allA semblance of calm returned to markets on Wednesday after the carnage sparked by hotter-than-expected American inflation that prompted investors to reassess the outlook for interest rates and economic growth.
Sumber: calgaryherald - 🏆 64. / 52 Baca lebih lajut »

Why yesterday's market carnage — the worst rout in more than two years — wasn't so scary after allU.S. stock markets plunged Tuesday after inflation data sparked fears of a bigger hike from the U.S. Federal Reserve. Read on for more
Sumber: fpinvesting - 🏆 43. / 63 Baca lebih lajut »