Prentice and Tosca Struggle

July 11th, 2008
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More large hedge funds have reported significant decreases in returns this month. Globally, hedge funds have posted negative returns for the first half of 2008. Prentice Capital Management, a hedge fund founded by SAC Capital Advisors has dropped 46% this year. Last month, it barred investors from withdrawing money, an increasingly common defensive action among hedge funds. Toscafund Asset Management's Tosca Fund has also posted a drop of 30% after taking positions in financial and UK home-building stocks. Market conditions have created a difficult environment for hedge funds and other financial firms to pursue their strategies.
For Detailed Investor Profiles on these Investors, click below:
Toscafund
SAC Capital Advisors
Related People: Martin Hughes; Steven A. Cohen
Related Entities: Canvas Capital; CR Intrinsic Investors; Old Oak Holdings; S.A.C. Global Investors; SAC Capital Associates; SAC Meridian; SAC MultiQuant; SAC Select; Sigma Capital Management; Toscafund; Walter Capital Management*

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