LONDON (HedgeWorld.com) - Toscafund Asset Management LLP, a British hedge fund manager that specializes in financial stocks, has suffered renewed falls on parts of its investment portfolio that have taken its losses to about 25% since the beginning of 2008. It is being particularly hurt by an ill-timed move into British housing stocks in the early spring.

The fund, headed by former Tiger-cub Martin Hughes, isn't believed to be in any difficulty in continuing to trade and has prime brokerage facilities with Morgan Stanley & Co., UBS AG and Credit Suisse Securities Ltd. The firm added Credit Suisse as a prime broker in March. But the renewed plunges in the stocks of British homebuilders and ...

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