Tiger Global’s Loss This Year Widens to 23% After February Swoon
Tiger Global Management posted a 10% decline for its flagship hedge fund last month, a steeper drop than the broader market.
(Bloomberg) -- Chase Coleman’s Tiger Global Management posted a 10% decline for its flagship hedge fund last month, a significantly steeper drop than the broader market, according to people familiar with the matter.
That follows a 14.8% swoon in January, extending its loss for the year to 23%.
The smaller Tiger Global Long Opportunities Fund, which primarily makes bullish wagers on equities, declined 11% in February, the people said. A spokeswoman for the New York-based firm declined to comment.
Together, the funds manage about $35 billion. Their biggest U.S. holdings at year-end were JD.com Inc. and Microsoft Corp., which both dropped about 4% last month. The S&P 500 slid 3.1% in February while the tech-heavy Nasdaq Composite Index dropped 3.4%.
Read more: Coatue’s Equity Hedge Fund Slid 4% in February on Volatility
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