Lansdowne Partners | Hedge Fund Notes
The following piece on Lansdowne Partners is being published as part of our Hedge Fund Tracker Tool, our daily effort to track hedge funds in the industry.
Resource #1: (7.29.09) Lansdowne Partners, one of Britain's largest hedge fund managers, has stopped accepting investments in its flagship fund with several other big funds set to follow suit, according to a report in the Financial Times.
The report said the 4.9 million pounds ($8.07 million) Lansdowne UK equities fund, which is up around 18 percent so far this year, was no longer accepting new money after more than $1.2 billion was withdrawn in record redemptions.
Lansdowne's action comes as the hedge fund industry is poised for a record year and investors look to reallocate capital to some of the most prominent brands. ($1=.6075 Pound) Source
Resource #2: (4.22.09) Lansdowne Partners Ltd., one of London's largest hedge-fund managers, has reopened its flagship fund for the first time in five years, according to people familiar with the situation.
Investors withdrew record amounts from the industry last year, leaving room for new investors in some sought-after funds. Paul Ruddock and Steven Heinz, who launched Lansdowne's $6.3 billion U.K. equities portfolio in 2001, ... source
Resource #3 (1.22.09) One of London's most successful hedge funds has made £12m in just four days by betting on a fall in the Barclays share price, a move that will heighten the controversy over so-called short-selling strategies.
Lansdowne Partners, which also profited from the fall in the share price of Northern Rock at the height of its problems, sold Barclays shares last Friday - when the bank lost almost a quarter of its value in frenzied trading - and bought them back again on Wednesday after they had fallen by almost £1.
The disclosure is likely to fuel the row between politicians and the Financial Services Authority which lifted a ban on short-selling last Friday. The ban was introduced last September to try to protect the share price of HBOS which was in the throes of a rescue takeover by Lloyds.source
Resource #4: Add Lansdowne Partners to the list of September casualties.
The London-based hedge fund firm took a hit last month, but compared to its peers fared relatively well. The $7 billion fund fell 6.1%, but remains up 1.3% on the year, well ahead of most hedge fund indices.
The firm, which Morgan Stanley owns a 19% stake in, told investors in a letter that a “market environment where volatility was pretty unprecedented” was responsible for the losses.
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