(MENAFN- Asia Times)
Remember Emerging Sovereign Group's Nexus hedge fund? Yes, it's the same fund that started the year through April, betting against the Chinese economy.
Now halfway through the year, Nexus' losses have reached 73%, as the fund continues to short China, while MSCI China Index gains reach 25% through June, according to a report from Bloomberg.
Kevin Kenny, a co-founder and chief investment officer of ESG declined to speak with Bloomberg about the massive losses, which included a 17% drop in June alone.
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