(Bloomberg) Three equity hedge funds operated by Lansdowne Partners LP posted gains in the first two weeks of this month after failing to make any money in April, according to a person familiar with the situation.
The $11 billion Lansdowne Developed Markets Fund rose 3.2 percent to May 13, cutting its loss this year to 10 percent, the person said, asking not to be identified because the information is private. A spokesman for the London-based firm declined to comment. The fund, which bets long and short on global stocks, declined 5.4 percent in April, according to the person. Lansdowne’s $500 million European Equity Fund made 1.6 percent this month, leaving it down 13 percent for the year through May 13, according to the person.
