From today's WSJ. Tiger didn't deny the rumors now. They simply said that the speculation about redemptions is "overblown."
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Tiger's Exposure
But Tiger has less than 10% of its portfolio in nonequity investments, according to a person familiar with the group, and hasn't faced margin calls, or demands for more collateral, from lenders in recent days. Tiger has sliced its leverage since the fall, according to this person. People familiar with Tiger's operations say the funds are up 0.3% so far this month, leaving them down about 7% for the year. And a spokesman for Tiger said speculation about redemptions was overblown.
Meanwhile, a spokesman for Soros Fund Management said the $6.6 billion Quantum Fund was down 19.1% for the year through April 12, but in recent weeks has recovered somewhat, and was down 14.6% for the year through last Wednesday. The spokesman declined to comment on the fund's investments.
So-called macro hedge funds, which make directional bets on currencies, bonds and stocks, have been struggling this year. Through May, macro funds were up on average just 1.52%, compared with 9.76% gains for hedge funds overall, according to Hennessee Hedge Fund Advisory Group.
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