July 11 Investors withdrew assets worth nearly
$400 million from Saba Capital Master Fund, a unit of Boaz
Weinstein's Saba Capital Management LP, the Wall Street Journal
reported on Friday.
The asset pullout during the first half of the year left the
fund with just under $1.6 billion, according to July fund
documents viewed by the Journal. (on.wsj.com/1zufH4e)
The hedge fund faced asset drain for the fifth consecutive
month in June, as markets remain calm, according to the report.
Weinstein, a former Deutsche Bank trader, was one of the
first traders to call attention to a derivatives bet that
eventually snowballed into JPMorgan Chase & Co's "London
Assets under Saba Capital's management fell to $2.6 billion
in July, from $5.2 billion last year, according to the Journal.
Saba Capital was not immediately available for comment.
(Reporting by Amrutha Gayathri in Bangalore; Editing by Joyjeet