How far flung bets scuttled Enso’s post-crisis resurgence.
|Josh Fink speaking at the 2011 AR Symposium.|
By Rob Copeland
His father may be one of the country’s most successful money managers, but that hasn’t helped Josh Fink beat the markets.
Enso Global Fund, managed by the son of BlackRock chairman Larry Fink, suffered a disastrous 2011, hurt by ill-timed concentrated positions in various natural resources stocks, according to investor documents obtained by AR. The losses have continued this year; Enso is down more than 7% through the end of April, a period when 76% of global equity funds in the AR database turned a profit.