BOSTON (Reuters) – Investment firm Tiger Global Management, which oversees $23 billion in assets, told investors its hedge fund gained 13.6 percent last year.
Tiger Global’s hedge fund invests some $8 billion in assets and gained 0.9 percent in December. That compares with the fortunes of many hedge funds that lost money in December and saw their gains for the year wiped out.
A Tiger Global spokeswoman declined to comment.
2018 was a second straight year of strong returns for Tiger Global after its hedge fund gained 28.2 percent in 2017. The average stocks-oriented hedge fund lost 6.9 percent last year, according to data from Hedge Fund Research.
Reporting by Svea Herbst-Bayliss; Editing by Bernadette Baum