Chase Coleman

Summary List Placement

While billionaire Chase Coleman has pumped billions into the private markets this year, his flagship public-equity fund is down so far in 2021.

The flagship was down 6.3% in May, sources tell Insider, and has lost 0.8% for the year through May. Tiger Global’s long-only fund lost 3.9% in May, but is up 4.3% for the year.

Several of Tiger Global’s biggest holdings in China have struggled this year, including e-commerce giant JD.com and agriculture tech platform Pinduoduo. Though Microsoft and Roblox — the firm’s second and third biggest holdings, according to regulatory filings — have increased in value this year. 

The average hedge fund, through the same timeframe, is up nearly 10% for the year after returning 1.7% in May, according to Hedge Fund Research.

The flagship returned 48% in 2020 in a banner that saw the manager return the most money — $10.4 billion — to investors last year of any hedge fund. The long-only fund meanwhile had an even better year last year, returning more than 65% for the year.

Tiger Global, which manages $65 billion across its different funds, declined to comment. 

The firm has been extremely active in the private markets to start the year, investing in …read more


Source:: Businessinsider – Finance

      

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