Two of Henderson's hedge funds managed by Stephen Peak tumbled in June. The Henderson European Abs...
Two of Henderson's hedge funds managed by Stephen Peak tumbled in June.
The Henderson European Absolute Return fund fell 9.07% for one month to 22 June 2005 and the UK Equity Long/Short fund fell 5.81%, according to Bloomberg statistics.
While Peak's UK fund fell, Henderson's UK Fundamental Long/Short fund, managed by Alex Crooke and James Henderson, was up 2.13%.
Stuart Macdonald, the head of hedge funds at Henderson, said: "Peak has not lost his touch. This was a stock-specific call - Regal Petroleum - that resulted in a loss in both funds. The loss was largely recovered as one fund was up 3% and the other up 4% as of the end of last week.
"With some managers, a loss like that would be it. However, we have had no redemptions from Peak's fund and as a fund manager he has universal investor support."
Peak joined Touche Remnant in 1986, which was subsequently acquired by Henderson Global Investors.
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