Tiger Global has suffered losses of $17B during this year’s tech stock sell-off, marking the biggest dollar losses for the hedge fund in history, according to a report by FT on Tuesday.
The run of poor performance signals the firm has in four months erased nearly two-thirds of its gains since it was launched in 2001.
Andrew Beer, managing member at investment firm Dynamic Beta stated that the scale of the loss is breathtaking, more so for a fund with ‘hedge’ in its name.
The losses were estimated by LCH, which is an authority on dollar gains and losses reported by hedge funds for their clients and that compiles an annual list of the world’s biggest money managers.
Still, the losses top some of the $4trillion hedge fund industry’s biggest declines of recent years.