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Alternative Market Briefing

Hedge fund Tiger Global falls 22% in Q1

Thursday, April 07, 2016

Komfie Manalo, Opalesque Asia:

Tiger Global Management’s wagers on falling prices early in the year have failed to protect Chase Coleman’s $6bn hedge fund as the firm lost nearly 22% in the first quarter, various media reported. Bloomberg pointed out that those losses happened while the global stock markets rebounded 6.8% in the first quarter after recovering from the early shocks in January.

Tiger Global’s positions in Amazon.com and Neflix Inc., delivered heavy blows as the two tech stocks dropped over 10% in the first three months of 2016. Overall, Tiger Global manages $23.7bn, including a long-only fund and private-equity funds.

The sharp decline in Tiger Global’s numbers has put the New York-based hedge fund amongst the worst performers so far this year, Reuters added. The losses were a complete reversal of Tiger’s strong 6.8% return in 2015 when most hedge funds reported declines.

Other holdings of Tiger that generated heavy losses were software solutions firm Tableau Software which fell over 50% in the first three months of this year and Restoration Hardware Holdings, a luxury home furnishing firm, which is nursing a 45% loss.

Other hedge funds are also in the red

Bloomberg said that several other major hedg......................

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