Hedge Fund Run by Zimmer Faces its First Annual Loss

(Bloomberg) Two hedge funds run by $1.7 billion energy-focused Zimmer Partners posted declines in September, leaving the largest pool at risk of recording its first annual drop. The $1.2 billion ZP Utility Fund, which makes long and short bets on the equities of U.S.-based energy companies, declined 8 percent in last month, bringing returns for the year to minus 6 percent, according to an investor document obtained by Bloomberg. The fund faces the first yearly drop.

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