(Bloomberg) The Blackstone Group LP’s hedge fund Senfina Advisors has lost 15 percent in 2016 after a June decline threw cold water on the $1.9 billion unit’s attempt to make a comeback.
The June loss of 3.5 percent in the multi-manager fund was due to “stock-specific movements uncorrelated to Brexit,” according to an investor update obtained by Bloomberg. The setback last month came chiefly from wrongway bets that financial services and oil and gas companies would rise while telecommunications and basic materials companies would fall.
