Chase Coleman's Tiger Global Hedge Fund Makes a Strong Comeback In 2023 After Past Struggles
Portfolio Pulse from Vandana Singh
Chase Coleman's Tiger Global Management hedge fund saw a 28.5% gain in 2023, rebounding from a 7% loss in 2021 and a 56% drop in 2022. The firm's long-only fund lost over half its value, and its largest venture fund was down 18% by September's end. Valuations for investments in Bored Ape Yacht Club and OpenSea were cut by 69% and 94%, respectively. Scott Shleifer stepped down as the private investment head but remains a senior advisor.
January 05, 2024 | 5:28 pm
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NEUTRAL IMPACT
Tiger Global's performance does not directly impact SPY, but the hedge fund's recovery could reflect broader market trends that may influence SPY's performance.
While Tiger Global's performance is indicative of its own strategies and decisions, it does not have a direct impact on the SPY, which tracks a broad range of stocks. However, the hedge fund's recovery could be part of a larger market trend that SPY, as a market index, would reflect.
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IMPORTANCE 20
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