Another Hedge Fund Manager Crushed By August: Lee Ainslie


lee ainslie

Hedge fund manager Lee Ainslie is down 10% year to date after a disastrous August, according to Reuters.

The manager of ~$10 billion Maverick Capital was crushed by investments in Youku.com (down 41% YTD), First Solar (down 34%), and Citigroup (down 43%) in his flagship fund, which lost 11% in August.

A smaller, levered version of the fund lost 23% .

According to Katya Wachtel at Reuters:

Maverick's flagship fund tumbled 11 percent last month, and is now down about 10 percent for the year, the two people familiar with the numbers said.

Ainslie owns 7.7% of The Chinese internet company Youku.

This means Ainslie, a prominent manager, might be facing some big competition now from managers with stronger returns in August and this year. He's not alone. Many hedge fund portfolios lost a lot of money recently.

Click here to see who's losing and winning big right now >

Please follow Clusterstock on Twitter and Facebook.

Join the conversation about this story »

See Also:

Source: http://feedproxy.google.com/~r/businessinsider/~3/LIE4CATt_nU/lee-ainslie-maverick-capital-is-down-10-ytd-august-2011-9

debt reduction companies debt reduction loan debt reduction software debt reduction strategies