Hedge Fund BFAM Loses 10% This Year on China Debt, Ruble Trades

BFAM Partners’ multi-billion dollar multistrategy hedge fund lost another 6.2% in March on China credit and volatility trades, including the ruble, said people with knowledge of the matter.

The March drop extended the first-quarter decline of the BFAM Asian Opportunities Fund to 9.7%, said the people, who asked not to be identified as the information is private. Its assets under management slipped to $3.6 billion, said one of the people.

That represented another setback for what had stood out for years as a star trader in Asia with global ambitions. The Hong Kong-based firm led by former Lehman Brothers ...