The main hedge fund run by London-based Lansdowne Partners, already bruised by difficult markets in 2016, is now nursing a near double-digit loss for the year.

The firm's $11.4 billion Developed Markets fund, run by Peter Davies and Jonathon Regis, lost 9.7% between the start of the year and March 11, according to industry data seen by Financial News. This compared with a 3.8% loss for the wider sector of equity-diversified hedge funds investing globally.