Campbell & Co., the $10.3 billion managed futures firm founded by Keith Campbell, compounded its losses for the year in August as financial markets continued to suffer from the spillover of subprime mortgage woes.
In August, the $1.2 billion multistrategy fund lost 11.11% to put it down 19.3% for the year. By comparison, the Absolute Return CTA Index was off 2.21% in August and is roughly flat year to date.
The multistrategy's long/short equity book contributed to the majority of losses. Along with other funds whose positions are driven by quantitative models, Campbell's equity investments were hit hard early