Philippe Jabre's Jabre Capital loses $300 Million on Japanese bets

March 28th, 2011
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Philippe Jabre, one of Europe’s more prominent hedge fund managers, incurred $300 million in losses last week from his hedge fund Jabre Capital Partners’
investments in the Japanese stock market. According to an article from Wall Street Journal, Mr. Jabre’s JabCap Global Balanced Fund bought Japanese stocks on news of the earthquake because he expected a rebound in the Japanese market after its initial decline. However, the unexpected meltdown of Japan's Fukushima Daiichi nuclear plant further reduced the Nikkei index, pushing it down by 13% overall. Moreover, the possibility of Tokyo stock market’s closure due to nuclear radiation exposure suggested the freeze of all his shares for a long period.

In order to minimize his hedge fund’s risks, Philippe Jabre withdrew investments from Japanese and global shares last Wednesday. However, as the nuclear plant stabilized, the market rebounded right afterwards. As a result, Jabre Capital’s JabCap Global Balanced Fund is down 3% year to date.
For Detailed Investor Profiles on these Investors, click below:
Jabre Capital Partners
Related People: Philippe Jabre
Related Entities: GLG Partners*; JABCAP; Jabre Capital Partners; Jabre Captial Fund; PF(LUX) – Convertible Bonds
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News

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