LONDON (Reuters) - Lansdowne Partners, one of Britain’s best-known hedge fund firms, lost money on several of its strategies between the start of the year and early March amid the coronavirus market slump, according to data compiled by HSBC.
Lansdowne’s $3.9 billion (£3.2 billion) Developed Markets Fund lost 1.3% in the month to March 6 and 12.1% for the year-to-date, according to HSBC’s data, which was seen by Reuters.
The $686m European Opportunities Fund lost 1.78% in the month to March 6 and 7.58% YTD while the $227m Princay Fund was down 10.9% and 26.4% respectively, making it the worst-performing fund so far in 2020 out of the hundreds of hedge funds in the bank’s index.
However, Lansdowne’s energy funds eked out positive gains, with the $780m Energy Dynamics Fund up 2.2% for the month to March 6 and 7.1% YTD and the $239m Clean Energy Fund up 0.1% and 1.1% respectively.
Landsdowne’s long-only funds were also down, with the European Long Only Fund losing 7.1% for the year to March 6 and the Developed Markets Long Only Fund down 17.4 percent.
A spokesman for Lansdowne declined to comment.
Globally, hedge funds were down 2% in the first two months of 2020, according to data from industry tracker Hedge Fund Research.
Reporting by Maiya Keidan; Editing by Kirsten Donovan