Many alternative asset managers, who brag about their ability to make money regardless of market conditions, posted their worst figures in years last month after worldwide sentiment suddenly changed on energy prices, financial stock and the U.S. dollar.

The hedge fund with the biggest loss is SRM, the Monaco-based group that took a huge gamble on Northern Rock last year. When Northern Rock was nationalized, the group lost approximately 85% of its investorsÂ’ money, according to The Wall Street Journal.

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