(Reuters) Smarting from its biggest-ever yearly loss, hedge fund Viking Global Investors has reordered its stock picking team and plans to invest more money in financial and consumer stocks and less in pharmaceutical stocks, its co-founder told clients. The $30 billion firm’s biggest portfolio, Viking Global Equities, lost 4 percent last year, marking only the third time since its 1999 launch that it lost money. The broader stock market index S&P 500 gained 12 percent in 2016.
Hedge Fund Viking Retools Stock Picking After Big Losses
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