Hedge Fund That Rarely Loses Has Its Worst Start to Year Ever
- The strategy is down about 3% this year amid virus sell-off
- Decade-old fund has never lost money in a 12-month period
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Even one of the world’s steadiest hedge funds can’t escape the coronavirus-fueled market carnage.
The worldwide sell-off since last month has left London-based hedge fund LMR Partners down about 3% for 2020 through last week, according to people with knowledge of the matter, who asked not to be named because the details are private. It’s the worst start to a year in about a decade of trading for the $4.6 billion fund, which has never lost money over a 12-month period.