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The fund that has been famously net short is looking to close to new money sometime this year.
The Horseman Global Fund is off to a strong start this year as it battles to return to its high water mark.
This is the hedge fund headed by Russell Clark and managed out of London-based Horseman Capital Management that racked up double-digit gains for four straight years even though it was net short.
However, it suffered a major setback in 2016, when it lost 24 percent, falling 37 percent or so from March 2016 through April 2017. Horseman Global eked out a 2.9 percent gain last year only after finishing strongly in December.
It has now put together four straight profitable months, posting a 7.73 percent gain in the first quarter of this year and more than 12 percent since last December, according to a letter to clients obtained by Alpha.
Even as the fund is enjoying an upswing, Clark recently told investors he hopes to close the fund to new investments sometime this year. Clark currently manages about $850 million in the...