Hedge Fund Atticus Denies Liquidation Rumors

Hedge Fund Atticus Denies Liquidation Rumors

Hedge fund Atticus denies liquidation rumors: report
NY Hedge fund company Atticus Capital denied market rumors it was liquidating its positions and shutting down and mentioned it had a large web capital place and was searching for investment alternatives, the Wall Road Journal reported on Thursday.
Atticus's two main hedge funds have been hit with losses of between 25 percent and 32 % this yr by means of August, however buyers are largely sticking with it, in accordance with unnamed investors cited by the Journal.

Stocks the Wall Road Journal mentioned Atticus held in latest months, together with Burlington Northern Santa Fe Corp BNI.N, Union Pacific Corp (UNP.N) and MasterCard Inc (MA.N), fell 3.7 percent, 6 percent and 5.9 p.c, respectively, amid a broad market promote-off.
Atticus officials couldn't immediately be reached for comment.
Buyers have sought redemptions for the tip of September for less than 10 percent of Atticus' capital, Tim Barakett, its founder, told the Journal, including its flagship fund had seen redemptions accounting for just 3 p.c of its capital.
Hedge fund manager Ospraie Administration LLC earlier this week mentioned it deliberate to close its flagship fund after it plunged 27 percent in August and a few traders are betting extra hedge fund closures may very well be on the horizon.
Not like many hedge funds, Atticus doesn't use numerous borrowed capital to boost its returns, which would mean it is not going to face the strain from lenders that have harm another funds, the Journal said.
(Reporting by Christian Plumb; Modifying by Andre Grenon)
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