Averill Suffers a Setback

One of the most successful new funds in recent memory has now posted losses for the past three months.

Seongjoon Cho/Bloomberg

Seongjoon Cho/Bloomberg

One of the hottest hedge funds in recent years is experiencing perhaps the worst stretch in its short history.

Averill Partners posted a 15 percent loss in August, sinking the firm into the red for the year. It is now down more than 9 percent through August.

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