…Hibbert, who runs BlackRock’s $9bn Strategic Equity hedge fund and has one of the strongest long-term track records in the sector, has recently shifted his portfolio so that bets on falling stock prices exceed bets on rising prices, said people familiar with the fund.
Such a move is unusual for hedge funds, which tend to retain a bias to rising prices because stocks are expected to rise over the long term. BlackRock and Odey declined to comment.