Mangrove Partners Loses 39% In 12 Months As Short Book Struggles; Takes Physical Possession Of Two Tankers

Contrarian hedge fund, Mangrove Partners’ investment portfolio declined 30% in the first quarter of 2020.

Q1 2020 hedge fund letters, conferences and more

The fund lost 23.5% in March. After this performance, over the 12 months to the end of March 2020, Mangrove’s portfolio is off by 39%, that’s compared to a loss of 7% for the S&P 500 over the same time frame.

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Following these losses, assets under management have slumped from $718 million at the start of 2020, to $718 million at the end of March.

Mangrove’s strategy under pressure

Founded in 2010 by activist investor, Nathaniel August, Mangrove employees a...