Tiger Global's main hedge fund posted a 15.2% drop in April bringing losses year to date to almost 44%, according to a report by BusinessTimes.
Tiger Global's main hedge fund posted a 15.2% drop in April bringing losses year to date to almost 44%, according to a report by BusinessTimes.
The fund's long-only strategy turned even worse performance and is now down almost 52% so far in 2022 following a 24.9% drop last month.
Tiger Global wrote in a recent investor letter: “April added to a very disappointing start to 2022 for our public fund. Markets have not been cooperative given the macroeconomic backdrop, but we do not believe in excuses and so will not offer any.”
Annualised returns at Tiger Global, which was founded by Chase Coleman in 2001, had exceeded 20% through 2022 with just two down years.
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