Legendary trader Paul Tudor Jones is known as a philanthropic man who isn’t big on the limelight, so it’s not every day that we get reports of what’s going on at his Greenwich-based hedge fund, Tudor Investments.However, today Bloomberg reports that two Tudor Investment vets (Allen Chu and Ashwin Ranganathan) are leaving the fund after seven years — and what’s interesting about that is why.
The $11.6 billion hedge fund is moving away trading equities in Asia and moving toward a more macro strategy.
Chu and Ashwin aren’t the only ones to have left because of this strategy shift either (from Bloomberg):
Tudor is looking to hire traders across strategies in the U.S. and U.K., where the fund also experienced departures, one of the people said. U.K.-based macro traders Mary Davis and Christiana Toutet, who worked as a team, left in mid-January after more than four years at Tudor, as did Susan Arnott, an equities trader who joined in 2011, the people said. Michael Georgiou is another macro trader in the U.K. to leave last month, the person said.
In 2012 the Tudor BVI returned 6.3 per cent last year and 2.2 per cent in 2011, a far cry from the 19% average returns PTJ has been getting since 1986.
Everything needs a shake-up now and again, and hey — who doesn’t want to work for a legend?
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.