{"id":9170,"date":"2008-11-20T00:00:00","date_gmt":"2008-11-20T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"jo-hambro-shuts-hedge-fund-after-vw-porsche-trade","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2008\/jo-hambro-shuts-hedge-fund-after-vw-porsche-trade.html","title":{"rendered":"JO Hambro Shuts Hedge Fund After VW-Porsche Trade"},"content":{"rendered":"<p>Bloomberg &#8211; JO Hambro Capital Management Ltd., which oversees about $3.5 billion of assets, will close one of its two hedge funds partly because a bet against Volkswagen AG shares backfired, people familiar with the situation said.             <\/p>\n<p>The $240 million Trident European Fund dropped 25 percent in October, its worst month since starting a decade ago, mainly after a bet on a drop in Volkswagen shares went awry, said the people, who declined to be identified because the firm doesn&#8217;t disclose returns. The fund has slumped 39 percent this year after posting average returns of 8.4 percent annually since its inception.     <\/p>\n<p>Poor performance, dollar gains sapping European investment returns and investors moving assets from medium-sized companies all contributed to the fund&#8217;s closure, Suzy Neubert, a spokeswoman for JO Hambro in London, said in an e-mailed statement.     <\/p>\n<p><a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601102&#038;sid=akeEan7YQpms\" target=\"_self\" title=\"Read Complete Article\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg &#8211; JO Hambro Capital Management Ltd., which oversees about $3.5 billion of assets, will close one of its two hedge funds partly because a bet against Volkswagen AG shares backfired, people familiar with the situation said. The $240 million [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[3808,3809,571,314,3807,402,740,129,663,83,1596,733,146,1183,3435],"class_list":["post-9170","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-bp-plc","tag-cap-funds","tag-cash-flow","tag-finance","tag-houlihan-lockey","tag-investment-firm","tag-lng","tag-losses","tag-management-fee","tag-medallion","tag-month-of-january","tag-new-money","tag-person-team","tag-private-enterprise","tag-steep-rise"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9170"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9170\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}