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Greenlight, Jana post September losses after selloff
October 1, 2014 / 2:57 PM / 3 years ago

Greenlight, Jana post September losses after selloff

BOSTON, Oct 1 (Reuters) - Hedge fund managers David Einhorn and Barry Rosenstein, like many other investors, were hurt by a sharp stock market selloff late last month and are reporting losses for September, people who have seen their numbers said.

Einhorn’s Greenlight Capital lost 1.3 percent last month, leaving it up 2.6 percent for the year. Rosenstein’s JANA Partners fell more sharply, dropping 3.3 percent in September, leaving it up 2.4 percent for the year.

Einhorn’s performance was hurt when two of his biggest investments, SunEdison and Marvell Technology Group Ltd , dropped in September. Similarly, some of Rosenstein’s biggest holdings including Walgreen and American International Group suffered losses that weighed on performance.

The Standard & Poor’s 500 stock index lost 1.6 percent in September after markets retreated from record levels late in the month, spooked by political turmoil around the world. The average hedge fund lost 0.62 percent in September, preliminary performance data from Hedge Fund Research show.

Hedge fund performance numbers, unlike data from mutual funds, are generally not made public, so any indication about these often secretive funds’ performance is closely monitored.

Bank of America reported early this week that hedge funds have now positioned themselves more defensively, taking their largest net short positions since 2007.

Reporting by Svea Herbst-Bayliss; Editing by Nick Zieminski

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