New York billionaire Chase Coleman’s Tiger Global hedge fund is off to another good start this year — all things considered.
The $8.2 billion tech-oriented fund, run by partner Feroz Dewan, gained 5 percent during the first quarter despite the 17 percent downturn in Apple, which was its biggest holding at year-end.
At that time, Apple accounted for 20 percent of the fund’s assets.
Staying on top of its game could be a challenge for Tiger.
Last year, the fund rose more than 15 percent in the first quarter.
US hedge funds were up about 3.6 percent, according to the Absolute Return Index.
This year it’s trailing the Standard & Poor’s 500’s first-quarter 10 percent gain as well as the Nasdaq’s 8.2 percent gain.