Hedge Funds

Levered Maverick fund down 13.2%

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Some of the levered funds that many managers launched are starting to bleed. Notably, the $10 billion Maverick Capital's levered fund was down 13.2% this year as of March 25.

Investors believe that Lee Ainslie's Maverick suffered large losses in March amid a short squeeze in financial stocks following the extraordinary measures taken by regulators to steady the financial markets, along with better-than-expected investment bank earnings. One person familiar with the portfolio indicated that losses were broad based.

According to a preliminary estimate from an investor, Maverick Fund and a levered version of that fund, Maverick Levered, both dropped significantly