Lone Pine, Candlestick, and Holocene among the big-name hedge funds hit hard in March
Published
Apr 08 2021 at 12:00 PM GMT
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- March was not pleasant for many hedge funds.
- Big-name managers like Lone Pine, Holocene, Candlestick, Suvretta, and more lost money as industry-wide alpha " or returns beyond the overall market " is on pace for its worst year since 2015, according to client data from Morgan Stanley's prime brokerage unit.
- March ended with a massive market event, thanks to the implosion of Bill Hwang's family office Archegos that dealt major losses to banks like Credit Suisse and Nomura.
- Meanwhile other banks, such as Morgan Stanley, offloaded some losses to hedge fund clients with the implied trade-off that those managers would get in on the hottest IPOs, according to a CNBC report.
- It's unclear which fund clients of Morgan Stanley were affected.
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- Published Apr 8, 2021 12:00 PM GMT