Hedge Fund Returns: One Famed L/S Fund Is Down 21% In January

We've got more tear sheets in for hedge fund returns in December, and one fund has already submitted its January tear sheet. Here are the updates we've gotten over the last two weeks:

Blue Mountain Credit Alternatives Fund was down for December and 2019. The fund's Class S declined 2.79% for December and 14.4% for 2019, while Class L was down 2.75% for December and 13.97% for 2019. Interestingly, the fund dumped all of its illiquid positions, as its December tear sheet shows 0% allocations to equity and global markets. Forty-two percent of the fund was allocated to distressed and special situations, while 5% was allocated to long/ short credit, and 3% was allocated to appraisal cases. Twenty-seven percent of...