(Bloomberg) Horseman Capital Management’s biggest hedge fund gained 7.4 percent over the last week, profiting from bearish stock bets as Britain’s vote to exit the European Union roiled global equity markets, according to a letter to investors seen by Bloomberg.
The return lifts Horseman Global Fund’s gains for the month to 10.4 percent and 6.5 percent through June 29 this year. The $1.9 billion hedge fund strategy managed by Russell Clark bets on rising and falling shares and was down 3.5 percent in the first five months of the year. A spokeswoman for the London-based investment firm, which oversees $2.7 billion, declined to comment.
