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Hedge fund Tudor shuts one portfolio; Jones to play bigger role

Hedge fund Tudor shuts one portfolio; Jones to play bigger role
From Reuters - December 1, 2017

BOSTON (Reuters) - Paul Tudor Jones, one of Wall Streets most prominent investors, is restructuring his Tudor Investment Corp. by liquidating one portfolio and planning to play a bigger role in managing money at the hedge fund firm he founded nearly four decades ago.

Jones told investors he was shuttering the five-year-old Tudor Discretionary Macro funds and that Andrew Bound and Aadarsh Malde, the portfolios co-chief investment officers, would be leaving.

The portfolio returned an average 3.5 percent a year during its lifetime, far below the average 17 percent a year return of the firms 31-year old flagship Tudor BVI Global Funds.

It has been a frustrating several years for macro trading and for me especially, the 63-year old billionaire wrote to investors in a Nov. 30 letter seen by Reuters on Friday. But I believe the environment is on the verge of a significant change.

Jones decision to shutter the portfolio was first reported by Bloomberg.

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