Hedge fund Lansdowne to shut $2.8bln main long-short strategy – ZAWYA

Hedge fund Lansdowne to shut $2.8bln main long-short strategy – ZAWYA

Hedge fund Lansdowne to shut $2.8bln main long-short strategy | ZAWYA MENA Edition HomeWealthAlternative InvestmentsArticleHedge fund Lansdowne to shut $2.8bln main long-short strategy Hedge funds that buy and short stocks, like the Developed Markets Fund, were down 5.7% in the first five months of the year    LONDON- London-based Lansdowne Partners is closing its main hedge fund, a long-short strategy that manages $2.8 billion in assets under management, a person familiar with the matter told Reuters.The closure of the Lansdowne Developed Markets Fund follows losses of 23% in the January-June period. It earned returns of 1.3% in 2019 and losses of 7% in 2018, said the source.Hedge funds that buy and short stocks, like the Developed Markets Fund, were down 5.7% in the first five months of the year, according to data from industry tracker Hedge Fund Research.The closure of the Lansdowne Developed Markets Fund follows losses of 23% in the January-June period. It earned returns of 1.3% in 2019 and losses of 7% in 2018, said the source.LONDON- London-based Lansdowne Partners is closing its main hedge fund, a long-short strategy that manages $2.8 billion in assets under management, a person familiar with the matter told Reuters.Hedge funds that buy