Hedge Fund Decca Lost 25% of Its Value in Rout
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A hedge fund managed by former Hutchin Hill Capital trader Shahraab Ahmad lost a quarter of its value last week after its bets against volatile markets backfired, according to people with knowledge of the matter.
The Decca Fund, which Ahmad runs at London-based City Financial Investment Co., focuses on U.S. and European credit and equities. The fund had built up large short-volatility bets and lost as they unraveled in the market turmoil, the people said, asking not to be identified because the information is private.