Sailfish Capital Partners, a US credit hedge fund run by former SAC Capital bond trader Mark Fishman, has recorded a loss of more than 12% for the first 51 weeks of last year and is understood to be suffering significant client redemptions.

Sailfish's multi-strategy fixed income fund, run since the hedge fund manager was launched in 2005 by Fishman, was down 12.15% for the calendar year to December 21, according to an investor. This compares with a gain of 11.9% in 2006.