BFAM’s $4 Billion Hedge Fund Heads for Annual Loss on China Bets
- Declines in October and November extend 11-month loss past 10%
- Fund is said to suffer from sell-off in Chinese property bonds
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BFAM Partners’ more than $4 billion hedge fund is heading for the first annual loss in its nine-year history, caught out by the sell-off in China real estate credit.
The BFAM Asian Opportunities Fund has lost more than 10% in the first 11 months of the year, according to people with knowledge of its performance. It dropped about 7.5% in October and another 3.3% in November, they said, asking not to be identified because the information is private.