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Comac Capital Downsizes Amid Loss

Sep 08, 2013
Jing Chen

Hedge fund firm Comac Capital has fired a third of its employees following nearly two years of investment losses.

The Wall Street Journal reported that London-based Comac laid off 18 employees last month as part of the firm’s “strategic decision” to bring its investment team back to the size that had previously been successful.

Comac’s 9% loss last year and nearly 5% this year prompted investors to redeem a significant amount of money from the firm. The firm now manages just $2.2 billion, down from its approximate $4.8 billion in September 2012.

Founded in 2005, Comac bets on economic and policy decisions around the world through instruments such as debt securities and currencies.

 

 

 

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