(Bloomberg) Months of losses and a decision to cut long-running short bets prompted clients of Horseman Capital Management to pull about 10 percent of the money in its flagship global hedge fund.
The Horseman Global Fund, which is overseen by partner Russell Clark, lost investors 24 percent last year, its worst annual performance since 2009, and declined another 6.7 percent in January through February, according to an investor letter seen by Bloomberg News. A spokesman for the London-based firm declined to comment.
