Several high-profile equity-focused hedge funds including Tiger Global Management, suffered significant losses in March as the conflict between the US, Israel, and Iran rattled global markets, according to a report by Bloomberg.
The firm’s flagship fund fell 7.3% last month, while Viking Global Investors lost 4.1% and Maverick Capital’s main fund dropped 5%. Maverick’s leveraged Long Enhanced strategy declined 8.1%. Coatue Management was also down 4.8%, according to sources familiar with the results.
These funds, often referred to as “Tiger Cubs” due to their founders’ roots at Tiger Management under Julian Robertson, were hit hard as geopolitical tensions drove volatility across equities and bonds.
The war and Iran’s control of the Strait of Hormuz, a crucial route for roughly 20% of global oil, pushed energy prices higher and amplified inflation concerns. The S&P 500 and Nasdaq 100 each fell about 5% in March. Meanwhile, Bloomberg’s Global Aggregate bond index dropped 3.1%, marking its worst month in over a year as investors adjusted expectations for interest-rate policy.
Representatives for all firms reportedly declined to comment on performance.
