(Bloomberg) Horseman Capital Management’s biggest hedge fund gained 20.4 percent in 2015, with long running bets that stocks would drop paying off as global equity markets declined.The $867 million Horseman Global Fund, managed by Russell Clark, returned 5.6 percent in December, helping it recover from an 8.7 percent loss in October. The performance for 2015 marks its best annual gain in seven years, according to a newsletter sent to investors and seen by Bloomberg News.
Horseman’s strategy bolstered the firm during a torrid year for the hedge fund industry, with the HFRX Equity Hedge Index retreating 2.2 percent and the MSCI World Index of stocks declining 2.7 percent.
