(Bloomber) Andreas Halvorsen’s Viking Global Investors shifted its allocation of capital among top managers, trimming the amount directly overseen by Chief Investment Officer Dan Sundheim, amid the worst performance on record for its equities hedge fund. Viking Global Equities fell 4 percent in 2016, the biggest annual loss since the flagship fund’s inception in 1999, according to a letter obtained by Bloomberg. Losses were driven by long positions — particularly on Teva Pharmaceutical Industries Ltd., whose shares plunged 45 percent last year — as well as bets against industrial and materials companies that surged in 2016.
Viking Shifts Capital Away From CIO After Stock Fund Has Biggest Loss
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