Trump's investment funds lose money, but he's unfazed
Donald Trump's presidential campaign is built on his business acumen.
But some of the Wall Street funds that he has invested in have proven less successful, under-performing industry benchmarks in the last 15 months, according to a Reuters examination.
Eighteen out of 21 hedge funds and mutual funds in Trump's portfolio lost money in 2015, and 17 of them are down so far this year, according to public disclosures and private performance data seen by Reuters.
The funds managed by Paulson & Co, BlackRock, Baron Capital and others lost an average of 8.5pc last year, according to Reuters calculations, whereas stock market and hedge fund industry benchmarks broke even or came close to it.
Trump's funds are down another 2.9pc so far this year, under-performing many benchmarks again. The performances in part reflect broader weaknesses in the investing climate.
The last 15 months have been difficult for many portfolio managers amid volatile stock markets, tumbling oil and commodity prices, and an economic slowdown in China.
Trump defended his holdings in an interview with Reuters, saying he invested in the funds three or four years ago and they have done well over time.
"I put some money with people that are friends," the New York businessman said, without naming names.
"I have no idea if they are up or down. I just know that they have been very good over a period of time," added Trump, the front-runner for the Republican nomination for the November presidential election.
Representatives for Baron, BlackRock and Paulson declined to comment.