Tiger Global’s flagship fund has ended Q2 with a 50% loss after fees on the back of the recent crash in tech stock prices, according to a report by The Financial Times.
Tiger Global’s flagship fund has ended Q2 with a 50% loss after fees on the back of the recent crash in tech stock prices, according to a report by The Financial Times.
The report cites a recent letter sent to investors as revealing that a long-only fund managed by the firm fared even worse with a loss of 63.6% over the same period.
Tiger Global has paid the blame for the losses on that fact that it had “underestimated the impact of rising global inflation and entered 2022 with too much exposure”.
The losses mean that Tiger Global’s flagship fund, launched in 2001, has now recorded net annual returns below 15%, while the long-only fund launched in 2013 has returned an annual average of less than 4%.
