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London Diversified Management Losses

London Diversified Management Losses

London Diversified Management Falls from $5b to $300m

Many hedge funds have performed well from the beginning of 2009 to this point in 2010.  But some hedge funds have fallen by the wayside during this recovery--for example, Asian hedge funds' slower recovery or the UK Ebullio fund's 70% loss.  Another story of a hedge fund struggling is that of London Diversified Management LLP, a hedge fund at the beginning of 2008 managed $5 billion.  In the last two years, London Diversified Management's assets have fallen to just $300 million.
London Diversified Management LLP, a hedge-fund firm that managed $5 billion at the beginning of 2008, shrunk to just $300 million over two years, after the performance of its flagship fund tumbled and investors pulled out money.
The financial crisis wiped hundreds of billions of dollars from the hedge-fund industry, and smaller hedge-fund firms in particular have struggled to recover. Assets managed by London Diversified Management , founded by former J.P. Morgan Chase traders David Gorton and Rob Standing in 2002, had risen to $500 million as of April after tumbling to $300 million at the end of 2009, according to a person close to the company. The firm had managed $5 billion at the start of 2008.
The flagship London Diversified Fund, which focuses on fixed-income securities and derivatives, lost 28.1% of its value in the 2008 calendar year, according to investors in hedge funds. It recovered somewhat in 2009, gaining 4.9%, and was up 1.2% in January, the most recent month for which those investors had figures.  Source

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