A bull sculpture in front of stock prices (red for gains) at the Shenzhen Stock Exchange. Photo: Reuters/Tyrone Siu

Remember Emerging Sovereign Group’s Nexus hedge fund? Yes, it’s the same fund that started the year dropping 62% through April, betting against the Chinese economy.

Now halfway through the year, Nexus’ losses have reached 73%, as the fund continues to short China, while MSCI China Index gains reach 25% through June, according to a report from Bloomberg.

Kevin Kenny, a co-founder and chief investment officer of ESG declined to speak with Bloomberg about the massive losses, which included a 17% drop in June alone.

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