London-based hedge fund manager Crispin Odey is having a disastrous year.
His $3.9 billion Odey European fell more than 22% in the first two weeks of March, bringing the fund’s losses down around 25% year-to-date, Bloomberg News reports citing unnamed sources.
Odey European was among the bottom performing funds in 2015, ending the year down 12.82%, according to data from HSBC.
The average hedge fund fell 3.64% in 2015, according to HFR.
The fund, which launched in 1991, has produced annualized returns of 12.37% since its inception, the data shows.
He isn’t the only one having a tough time of it, of course.
Pershing Square Holdings, Bill Ackman’s publicly traded vehicle, has fallen 26.4% through March 15, according to a performance update.