A hedge fund started by a pioneering female investor has lost more than half its assets in two years

A hedge fund started by a pioneering female investor has posted slight gains this year after suffering a steep drop in assets.

Jamie Zimmerman’s Litespeed Partners now manages about $725 million, less than half of what the fund managed in October 2015 when it had around $1.9 billion, according to a person familiar with the figures who requested anonymity because the information is private. The fund managed about $3.24 billion at the start of 2015, according to a Reuters report from the time.

Litespeed, which makes bets on distressed companies and company events such as mergers and acquisitions, is not alone. Last year, investors pulled $38 billion from event-driven funds – those that bet on company activity – and investors have yet to re-up, according to data from Hedge Fund Research.

Source: Businessinsider 

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