Suttonbrook drops below $1 billion as performance wanes
August 03, 2010
Suzy Kenly Waite
John London and Steve Weinstein’s firm, which has dropped below the billion dollar mark, has suffered three negative months in a row.
With performance slightly down for the year, Suttonbrook Capital Management has dipped below the billion dollar mark. The firm, which was founded by former Highbridge Capital Management executives John London and Steve Weinstein, managed $1.1 billion at the beginning of 2010, but assets had shrunk to $900 million as of July, continuing a decline from $2.3 billion in January 2008.
Assets have declined steadily since then, dropping to $1.8 billion in July 2008, $1.3 billion in January 2009, $1.1 billion in July 2009, and $1.01 billion in January 2010. Suttonbrook declined to comment.
The drop is partially due to down months in April, May and June. The fund is down 1.09% this year through June, having lost 95 basis points in...
TAKE A FREE TRIAL
The full contents of this article are available to Absolute Return subscribers and trialists only.
To continue reading please, take a free trial, subscribe or log in.
Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.