简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:(Reuters) – Melvin Capital Management is planning to shrink to $5 billion from the $8.7 billion it managed at the end of March, aiming to become more nimble to seek better returns, said a source familiar with the matter.
Reuters – Melvin Capital Management is planning to shrink to 5 billion from the 8.7 billion it managed at the end of March, aiming to become more nimble to seek better returns, said a source familiar with the matter.
Melvin, which lost nearly 7 billion early last year by betting on stocks like GameStop would tumble, is targeting a size of between 4.5 billion5 billion and told investors that its maximum total assets under management should remain between 6.5 billion and 7 billion until June 2027, when this threshold could be changed, the source said.
To remain within this limit, Melvin intends to return capital to investors every time it reaches 7 billion for more than 90 consecutive days, according to the source who did not want to be identified because the discussions are private.
Gabe Plotkin, the founder of Melvin, had been betting since 2014 that GameStop shares would tumble as the world shifts away from the brickandmortar video retailers offerings.
But retail investors banded together to support GameStop, sending it surging more than 2,500 in January 2021. By the end of the month, Plotkin had closed the short position on the socalled meme stock, but the hedge fund lost 39 last year.
Melvin intends to charge fees ranging from 15 to 25 under this new structure, down from its previous performance fee of 20 to 30, the source said.
The Wall Street Journal and CNBC reported earlier on the funds restructuring.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.