Bloomberg- The Children’s Investment Fund Management LLP, a London-based hedge fund, lost more than $1 billion in June, posting its biggest-ever monthly loss, the Financial Times reported.
The five-year-old fund, also known as TCI, dropped 12.5 percent last month, topping the previous biggest fall in May 2006, the report said, citing investors in the fund it didn’t identify. TCI, with a record of annual returns of more than 40 percent, will be in the red for the first half of 2008, the report said.
TCI founder Christopher Hohn declined to comment, according to the newspaper.
