The tech stock rout continues to hit hedge funds hard with Maverick and Lone Pine both seeing falls of around 30% so far this year, according to a report by Bloomberg.
The funds, run by Lee Ainslie and Steve Mandel, respectively have joined several other Tiger Cubs on the list of tech stock losers.
Maverick Capital main hedge fund saw a loss of 32.5% up to the end of May, according to people familiar with the results on the back of bets on South Korean e-commerce giant Coupang Inc and Amazon.com Inc
Mandel’s Lone Pine, meanwhile slid about 30% in the same period, other people said. Two of its Q1 stock holdings – Workday Inc and Shopify Inc – have dropped 43% and 73%, respectively, up to the end of May.
Yen carry trade risks mount
Hedge funds and other leveraged investors face renewed risks from the yen carry trade as Japan moves further away from decades of…
More
Valour launches first crypto hedge fund using Neuronomics AI strategy
Valour, the digital asset investment products subsidiary of DeFi Technologies, has launched its first hedge fund as it expands beyond…
More
SocGen targets strong prime brokerage growth
Societe Generale is planning to significantly expand its prime brokerage business as part of Chief Executive Officer Slawomir Krupa's…
More