Maar es even wat klaarheid brengen; is erg nodig hier.
Firms run by Ray Dalio, Michael Hintze, Adam Levinson and others suffered their worst-ever losses last month, with some funds down as much as 40% as the coronavirus pandemic battered global markets. Overall, three out of four hedge funds lost money, according to preliminary data compiled by Bloomberg.
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Dalio’s Bridgewater Associates saw its flagship Pure Alpha II hedge fund get caught on the wrong side of the sell-off that began in late February, sending it down about 16% last month. The market chaos hit Bridgewater at the “worst possible moment,” when its portfolios were tilted to benefit from buoyant markets, he wrote to investors in mid-March.
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Hintze’s $3 billion CQS Directional Opportunities Fund plunged 33% in March, nearly three times its previous worst monthly decline, as structured-credit wagers soured with the broader market. A CQS strategy focused on asset-backed securities fell more than 40%.
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Levinson, who runs Graticule Asset Management from Singapore, said in a letter to investors that March was “epically turbulent.” His macro hedge fund posted a 9% decline, its biggest ever, as bets on equities in Japan, China and the U.S. and some fixed-income trades soured, according to the letter seen by Bloomberg.