Big hedge funds suffer big losses in September

Reuters – Hedge funds made history in September but not the kind most managers want to remember.

Among the biggest losers, as last month’s returns are slowly revealed to investors, are some of the $1.9 trillion hedge fund industry’s most prominent and most successful names.

Dan Loeb, an activist investor known for his sharply worded letters to poorly performing companies, saw his Third Point Offshore fund tumble 11 percent in September, people familiar with the numbers said on Thursday.

In the first nine months the fund lost 17.86 percent.

Lee Ainslie, who once worked for industry legend Julian Robertson, saw his Maverick Fund lose 19.47 percent in September, leaving the fund down 21.24 percent for the year.

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