- London firm's Developed Market Fund makes 2% amid volatility
- Hedge funds betting on equities lost average 1.7% last month
Not all hedge funds were caught out by last month’s volatility. Lansdowne Partners’s main $12 billion fund gained 2 percent in the period, according to a person with knowledge of the returns.
The rise in the Lansdowne Developed Market Fund in September took its increase for the first nine months to 14 percent, said the person, who asked not to be identified because the information is private. Spokesman Andrew Honnor declined to comment. Lansdowne, based in London, manages total assets of about $20 billion.
The gain in the fund, which bets long and short on equities globally, compared with an average loss of 1.7 percent for firms using a similar strategy in September, according to data provider Hedge Fund Research. Volatility continued to roil global markets last month as concerns over China’s economy persisted.
Long and short equity hedge funds are down 2.2 percent in the nine-months through September on average, Hedge Fund Research said. One such money manager, Larry Robbins, posted a 12.4 percent decline in September at New York-based Glenview Capital Management, extending the year’s loss to 12.9 percent.
The Wall Street Journal reported Lansdowne’s gain earlier.