Fort has posted steep losses in 2022, pushing the computer-driven hedge fund’s assets sharply lower and drawing a stark contrast to many of its peers in the “quant” sector.
The Washington, DC-based firm has been hit by losses of 20 per cent to 40 per cent across its funds, according to investor documents. Its losses come during a year when many other quant funds have posted strong gains as their models tapped into volatility in stock, bond and commodity markets.
Fort’s tough year has weighed heavily on its assets under management, which clocked in $1.9bn in early July compared with $6.2bn in January 2021. Recent weeks have been particularly painful for the fund, which was founded in 1993 and is one of oldest quant shops, with assets falling by $1.1bn in the period between June 24 and July 7 alone, according to investor documents.