Hedge fund veteran Brummer looks to hire new traders after record loss

Swedish firm's flagship fund heading for worst year since 2003. Founder and chairman is now looking to add more equity strategies.

Patrik Brummer, founder of Sweden's biggest and oldest hedge fund, Brummer & Partners. | Photo: Dan Coleman/Dan Coleman AB

Patrik Brummer, the 72-year-old founder of Sweden's biggest and oldest hedge fund, is hoping to hire more equity traders to avoid a repeat of the unprecedented losses suffered this year.

His USD USD13.8bn eponymous partnership wants to add new long-short equity vehicles to Brummer Multi-Strategy (BMS), the firm's flagship fund that gives clients access to several independent, in-house strategies. The fund has lost 0.4 percent in 2021 while its benchmark index returned 7.4 percent over the same period.

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