• English   Deutsch   
  •  GMT      
  • LONDON      
  • FRANKFURT      
  • NEW YORK      
  • SAO PAULO      
  • TOKYO      
  • SYDNEY      
Hedge Fund Database
Morgan Hedge Fund Database



  Hedge Fund Search
Name, ISIN, Ticker:

Hedge Funds Search Detailed Search
  Hedge Fund Directories
Listed Hedge Funds:9,835
HF Professionals:16,355
Service Provider:490
Harbinger lost 29.6 percent in February
  Hedgeweb - TUE, MAR 27 2012
Funds & Investment Philip Falcone's flagship fund, Harbinger Capital Partners Fund II, lost 29.6 percent in February largely because of ailing telecommunications company LightSquared Inc.

The heavy losses in the portfolio coincided with news that the U.S. government planned to revoke its provisional approval to LightSquared to build out its network after tests showed that the network would interfere with the global positioning systems used by the military and commercial airliners among others.

February's poor performance numbers follow similarly bad numbers for 2011 when the fund lost 47 percent because the LightSquared investment had to be revalued.

On an investor call in mid-February Falcone told investors that he remained committed to the project.

Harbinger lost 29.6 percent in February

Please register or login to comment on this article.

Comments represent the views of the individuals who post them. They do not necessarily represent the views of Morgan Hedge / HEDGEweb or our partners.

© Morgan Hedge™ · HEDGEweb™
Morgan Hedge and HEDGEweb are Trademarks of morganhedge.com, TAA LLC and VIImedia S.A.