NEW YORK Oct 3 Tiger Global, one of the world's
best-performing hedge funds, ended the third quarter with strong
gains, leaving the fund up 22.4 percent for the year, two people
familiar with the numbers said on Wednesday.
The roughly $6 billion fund, run by Chase Coleman and Feroz
Dewan, has been the darling of the investment community for its
string of strong returns at a time when the average hedge fund
is delivering only low single-digit returns.
In 2011, when most funds nursed losses, Tiger Global
captured headlines with a 45 percent gain for the year after
having made a good chunk of money on the short side, people
familiar with the portfolio said.
Coleman got his start at industry icon Julian Robertson's
At the end of the second quarter the New York-based fund
listed Apple Inc, Yandex NV and Google Inc
as its three largest positions.
In September the fund gained 1.5 percent. The two people
familiar with the performance of the fund were not authorized to
speak on its behalf.
The quarter was a good one for many hedges as strong stock
markets and the gold rally helped underpin performance across
the sector. For example, David Einhorn's $7.7 billion Greenlight
Capital was up 13.5 percent for the year at the end of