Paul Tudor Jones Clients Pull 15% From Main Hedge Fund
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BVI client assets sink to $3.6 billion, half value of year ago
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Billionaire macro manager’s fund is down 1.9 percent
Paul Tudor Jones’ investors are increasingly deserting him.
The billionaire macro manager who helped give rise to the hedge fund industry saw clients pull about 15 percent of their assets from his main fund in the second quarter, according to investors who asked not to be identified discussing private information. That’s left client assets at about $3.6 billion, almost half the value a year ago.
The withdrawals are a blow to Jones — the Memphis native and former cotton trader who started Tudor Investment Corp. almost four decades ago — and exemplify the asset bleed hurting the biggest names in the business, including Alan Howard and John Paulson. As clients flee amid investment losses, Jones has taken steps to revive his firm, including reducing fees and headcount…
Paul Tudor Jones Clients Pull 15% From Main Hedge Fund
