Billionaire trader Michael Hintze suffered a record 45% loss in his flagship fund in just 2 months

CQS

• Hedge-fund billionaire Sir Michael Hintze stomached a record 45% loss at his flagship fund in March and April, according to Bloomberg.
• The CQS Directional Opportunities Fund's loss dwarfed hedge funds' average decline of 4.6% for the two-month period, Bloomberg said, citing Hedge Fund Research data.
• CQS had to sell investments at a fraction of their face value to raise cash during the pandemic, Bloomberg reported.
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Billionaire trader Sir Michael Hintze suffered a record 45% loss in his flagship fund as several of his bets soured due to the coronavirus pandemic.

The Hintze-managed CQS Directional Opportunities Fund shed about 33% of its value in March and another 17% in April, according to Bloomberg.

See the rest of the story at Business Insider

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