Red October for two Swedish hedge fund giants

Brummer-backed bond fund drops 18 percent last month, but another major Swedish hedge fund manager suffered an even more catastrophic October, generating its "worst ever monthly result".

Two major Swedish hedge funds have suffered disastrous October results. One of them is Gladiator, managed by Max Mitteregger. The fund had its worst ever monthly result in October, with a -29 percent performance. Year-to-date, Gladiator is down 50 percent, writes Dagens Industri.

One of the main reasons for the poor showing last month is its position in pharmaceutical firm Oncopeptides, a company that has experienced significant stock price drops this year due to issues with clinical studies. Oncopeptides is a portfolio company of life science venture capital firm Healthcap, which invested in it at an early stage, as recently reported by AMWatch.

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