Tiger Legatus Master Fund was up a commanding 20.8% net in the fourth quarter, dramatically outperforming the MSCI World Index's 8.7% gain and the S&P 500's 9.1% gain for the quarter. For all of 2019, the fund was up 21.2%, so the fourth quarter was where it made almost all of its gains for the year. The MSCI World Index was up 28.4% for 2019, while the S&P gained 31.5%.
The fund generated alpha on both the long and short side. Longs contributed 37.1% for performance, while shorts detracted 12.7%. As of Jan. 10, Tiger Legatus was 63.4% net long with...
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