Passport Global Up 6.7% In Q3; Burbank Worries About Liquidity

The third quarter of 2015 was one of the most turbulence periods for hedge funds since 2008. According to HFC the hedge fund industry suffered a $95 billion decline in assets to $2.87 trillion during the turbulent third quarter as most funds racked up losses amid turbulent markets. Passport Global was one of the few funds to report a positive performance for the third quarter. Indeed, for the three months ending September 30 Passport Global appreciated 6.7% net versus the MSCI AC World Index which was down -9.3%, and the S&P 500 which fell -6.4%. Since inception (August 2000), John Burbank’s hedge fund…