Daily Telegraph- Some of the world’s best-known activist hedge funds are suffering their worst start to the year on record with many posting losses of more than 20 per cent of their funds.
London-listed RAB Capital’s Special Situations fund has gone from being one of the best performers for years to being down 17 per cent at the half-year, while Toscafund, another London star, was down 18 per cent as of June.
Kinetics Fund, the American star performer best known for starting internet mutual funds in the 1990s, is down more than 25 per cent, according to the latest figures compiled by HSBC Private Bank.
The bad news comes after Hedge Fund Research, a US analysis group, said last week the industry index it compiles was the worst in the first six months of the year since it began tracking in 1990.
