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Article: Weill funds embarrass Lord Rothschild with $600m loss
- Article from:
- The Independent (London, England)
- Article date:
- September 30, 1994
- Author:
CopyrightCopyright 1994 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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LORD ROTHSCHILD, one of Britain's most eminent investors, is
about to sever his connections with a Buddhist American investment
manager whose $1.2bn hedge funds have embarrassed him by halving in
value this year.
The funds, which are being wound down, are managed by David de
Jongh Weill from Spencer House, a mansion overlooking St James's
Park that used to belong to the family of the Princess of Wales. Mr
Weill's office is rented from one of Lord Rothschild's companies.
But Mr Weill's rich clients have been disappointed this year by
a fall of more than $600m in the value of the highly speculative
funds, which bet heavily on a fall in interest rates that did not
happen.
Lord Rothschild's two ...