London-based hedge fund The Children’s Investment Fund Management LLP (TCI) posted its largest monthly loss ever – over $1 billion – for June 2008.

The fund fell 12.5% last month, exceeding its previous biggest drop in May. TCI is vulnerable to the current market failure because it does little hedging to minimize exposure to unwanted risks.

TCI has a record of annual reports of over 40% with investments such as Deutsche Boerse AG and CSX Corp. This hedge fund will be in the “red” for the first half of 2008.

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