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Alternative Market Briefing

China’s woes hurt Tiger Global and other hedge funds

Thursday, September 03, 2015

Komfie Manalo, Opalesque Asia:

The $3.5bn Tiger Global Long-Only Opportunities fund, which is managed by Chase Coleman, the most prominent of Julian Robertson’s so-called Tiger Cub hedge fund managers, suffered a 7.4% loss in August, following the Chinese stock market turmoil.

According to the Financial Times, Tiger Global Management’s larger $6.5bn long/short fund was also hit with a 4.7% decline in August and is now flat for 2015.

Coleman, together with other Tiger Cubs — who all began their careers with Julian Robertson’s Tiger Management — lost money after placing heavy bets on Chinese internet ventures, said the FT.

Several other large hedge fund managers also reported losses.

Ackman said that his hedge fund, Pershing Square, had returned 10% (net) YTD through the end of July but all this was erased following the huge declines in the Chinese stock market.

Loeb's Third Point fund dropped 5.2% in August but is up 1.2% for the year, said Reuters. His Third Point Ultra fund fell 9.1% and is flat on the year with a 0.8% ga......................

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