Tiger Global losses mount after whipsawing tech valuations
Losses at Tiger Global Management continued to mount in October after the New York-based hedge fund was buffeted by the whipsawing value of technology stocks in the US and a sell-off in China.
The firm’s flagship hedge fund lost 5.4 per cent in October, taking losses so far this year to a new low of 54.7 per cent, according to a person with knowledge of the figures.
A “crossover” fund that mixes publicly traded technology holdings without any hedges and Tiger’s private equity investments fell 4 per cent in October, putting year-to-date losses at 44 per cent, another fresh low, according to a document seen by the Financial Times.
This story originally appeared on: Financial Times - Author:Antoine Gara
