Aug 24, 2026 – 5.00amCaledonia, the money manager investing on behalf of some of the country’s wealthiest families, lost nearly a third of its funds in the last financial year, a bruising performance that has left backers furious.The Caledonia Global Fund – run by high-profile investors Will Vicars and Mike Messara and with about $10 billion under management earlier this year – recorded a negative 32.7 per cent return in the 12 months to June 30, according to a performance estimate circulated to its clients.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Caledonia posts dire returns, and furious investors want answers
A poor run by the hedge fund that once attracted Sydney’s wealthiest families has put its high-profile stock pickers Will Vicars and Mike Messara under pressure.
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