Tiger Legatus, a hedge fund backed by Tiger Fund Management legend Julian Robertson, has brought the curtain down on 13 years of trading following the worst ever start to a calendar year for equity funds, according to a report by The Financial Times.
The New York-based fund, which was founded by former Viking Global Investors trader Jesse Ro is said to have informed investors by letter of the decision to cease operations and return capital.
The FT reports that equity funds have lost an average of 8 per cent in the first five months of 2022, recording worst performance than in the opening months of the coronavirus pandemic in 2020.
Tiger Legatus has performed much better that its peers seeing a fall of 2.8 per cent in Q1 2022 and a 1 per cent loss in 2021. Another so-called Tiger Cub, Tiger Global, lost 34 per cent in the first quarter of 2022 and is now down 52 per cent, while Maverick Capital is down by more than 34 per cent.
