London Diversified Fund Management, once a high flyer among fixed income hedge funds with $5 billion under management, took a severe blow as the global financial crisis struck and the U.S. in particular was hit with a crisis in the housing market. LDFM’s London Select Fund is managed by David Gorton—the hedge fund has over $600 million and invests in liquid assets using a fixed income global macro strategy. London Select was up 2.05 percent in May, in addition to the +6 percent return it netted in April, and the fund is up 11.15 percent YTD. LDFM Hedge Fund Currency Positions London…
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