Quantitative Hedge Funds Hurt by Japan Catastrophe, FT Reports
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Several big quantitative hedge funds, which employ mathematical strategies fed into computers, have suffered severe losses as a result of the Japanese earthquake and tsunami, the Financial Times reported.
The $4 billion flagship fund of Connecticut-based Graham Capital Management LP lost $300 million, almost 8 percent of its value, in the first two weeks of the month, and its other funds lost about 5 percent each, the newspaper said, citing an unidentified investor.