Tiger Global turns in 5.4% loss in October despite S&P 500's 8% surge - report
Nov. 07, 2022 4:11 PM ETSP500By: Max Gottlich, SA News Editor
- Tiger Global, the hedge fund managed by billionaire investor Chase Coleman, was said to have posted a loss of 5.4% in October, bringing its annual decline to 54.6%, people with knowledge on the situation told Bloomberg Monday.
- That monthly slump comes even after the broader stock market (SP500) jumped 8% in October for the second-best month in nearly two years.
- As a result of its mounting losses, Tiger Global has been revamping its portfolio. In November, for instance, the fund reportedly halted new Chinese equity investments in an effort to reduce its exposure to the country after Xi Jinping's re-election.
- Tiger Global did not immediately respond to a request for comment by Seeking Alpha.
- In October, Tiger Global was said to have looked to raise $6B for its next venture capital fund.