Jeffrey Vinik's Tampa Bay Lightning are struggling, but the
performance of his National Hockey League team isn't the only worry for the
veteran stock-picker. Investors have asked to pull around $1.5 billion from his
hedge-fund firm after a period of poor performance, people briefed
on the matter told the WSJ.
The withdrawal requests amount to around 18% of the roughly
$8 billion that was run by Vinik Asset Management. The redemption requests have come as Mr.
Vinik, who rose to fame in the 1990s as the manager of Fidelity Investments'
Magellan fund, has added a new investment team and moved from Boston to Tampa
to be closer to the Lightning, the franchise he owns. The moves have raised
concerns in some quarters…….
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