Reuters – Vega Asset Management, a $5 billion hedge fund group that trades in global currencies and fixed income, is facing a disappointing year with performances that are well short of industryaverages, the firm told investors this week.
Madrid and New York-based Vega, founded by well-known trader Ravi Mehra, is down 16.16 percent in the year through November in its flagship Select Opportunities Fund, the firm said in a Dec. 12 letter to investors obtained by Reuters.
That’s well short of the average performance for similar “global macro” funds, which were up 7.9 percent in the year through November, according to Hedge Fund Research, which tracks the hedge fund industry. And “relative value” funds, a category to which Vega also belongs, are up 10.8 percent in the same period, according to Hedge Fund Research indices.
