New York-based Tiger Global has been hit by losses of around $17 billion during this year’s technology stock selloff, marking one of the biggest dollar declines for a hedge fund in history, the Financial times reported.
The firm, one of the world’s biggest hedge funds, has erased around two-thirds of its gains in four months, the newspaper said, citing calculations by LCH Investments.
Market-leading technology and growth stocks have suffered this year as investors worry that rising interest rates will dent their future earnings.
Tiger Global did not respond to a Reuters request for comment outside business hours.
By Shivani Tanna