This year doesn’t look so good. Through the middle of February, two billion-dollar hedge funds run by San Mateo-based Bowman Capital - Bowman Capital Founders Offshore Fund and Bowman Capital Technology Fund - were down 11.8 percent and 14.1 percent, respectively, according to numbers compiled by a private bank. The Nasdaq composite index was up about 3 percent for the same period. It’s not entirely surprising that the former Fidelity Investments money manager was hurt by Nasdaq’s temporary recovery early this year. Bowman, who reportedly runs money for technology powers like Michael Dell and former Microsoft CFO Greg Maffei, made his reputation by being the rare tech investor who shorted stocks in recent years. Still, it’s an unsual stumble for Bowman: He has posted annual compounded returns of 31 percent for Bowman Capital Technology since March 1996 and 63 percent for Bowman Capital Founders since March 1998. A Bowman official says the firm does not comment on intraquarter results.
