Tudor Investments Hit With Heavy Redemptions

Bloomberg reports that

Tudor Investment Corp. clients have asked to pull more than $1 billion from the hedge fund firm founded by billionaire Paul Tudor Jones after three years of lackluster returns.

The investor redemption requests were made in recent weeks, according to two people with knowledge of the matter, and follow the exit of several money managers, some of whom spent decades at the firm. Another senior executive, Richard Puma, Tudor’s deputy chief operating officer, is planning to leave, the people said.

ptj everglades foundationThe withdrawals mark a setback for the $13 billion firm, one of the oldest and well regarded in the industry. BVI Global, Tudor’s main fund, which makes wagers on macroeconomic events, added to losses in March, pushing its decline to 2.8 percent in the first quarter, according to an investor document. That follows gains of 1.4 percent in 2015 and 3.5 percent in 2014……

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