Webb under pressure as losses mount at Verus


David Webb achieved big successes as the portfolio manager for Cleveland-based Shaker Investments hedge funds, where he oversaw more than $1 billion of assets for the firm's long/short equity hedge funds. When he left at the end of 2002 to start his own fund, Shaker converted its $1 billion of hedge fund holdings into cash, and many investors redeemed to follow Webb to his new venture.

But Webb has not been able to successfully re-deploy his winning strategy at Verus, his new fund. For the month of March 2004, the Verus Investment Fund lost approximately 0.8%, net of fees.