683 Capital Management Re-positions for New Normal

683 Capital Management returned -18% net in the quarter to the end of June. Following this performance, the fund is off 18% year-to-date, that’s according to the firm’s second-quarter investor update, which ValueWalk has been able to review. Q2 2020 hedge fund letters, conferences and more Commenting on this performance in its latest investor update, the long/short equity fund admitted that the “portfolio was not well-positioned for this global pandemic,” as many of the investments held were in the most affected industries, such as cyclical stocks and smaller companies. For more up-to-date hedge fund content, and exclusive access to value-focused hedge…