London-based hedge fund The Childrens 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.