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SRM Global Master Fund - equity investor

Count of distinct funds: 1
Capital base: $3 billion
Loss: 85%

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stories: wsj.com

Jonathan Wood's SRM Global Master Fund has investors in a world of hurt according to the WSJ. The ex-UBS AG trader started SRM Global in September 2006 with $3 billion from investors who agreed, at the time, to not withdraw their money for as long as five years (Oops!).

According to the WSJ:

Mr. Wood generally takes a long-term approach to investing. His flagship SRM Global Master Fund holds large equity positions in companies involved in mergers, financial restructurings and other corporate actions.

This year, the hedge fund was down about 77% through July, which comes on top of a roughly 34% decline last year, the person familiar with the returns said. From the fund's 2006 launch to the end of July, the S&P 500 index was down 3.3%.

Some of SRM's more disastorous plays include investing in Countrywide Financial (Whoops!), Northern Rock (Ouch!), and Bear Stearns (Yowza!).

Can't a guy catch a break?

Wood's SRM Global Master continues on despite severe losses since inception; however, with such severe losses, they are certainly "ailing".

If you have any tips on SRM, please send them in!

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Important: This fund is on our list of hedge funds that are apparently ailing or which we think are worth watching for any other reason. Ailing funds haven't shut down, but they've suffered significant value declines and/or temporarily halted redemptions. Funds on watch may not even have unusual declines, but may be posted if it is felt there may be risk of developing a more serious condition eventually.