GLG Partners, the London-based hedge fund manager, has reported a 54.8% drop in net revenues for the second quarter of this year, according to its second quarter results, its last with prominent fund manager Greg Coffey on board. In the first half overall, it lost $1.82bn through its funds' performance

GLG reported that net revenues and other income fell from $418m in the first quarter of this year to $188.8m in the second quarter, a 54.8% fall. Its second half net revenues fell by 34.8% to $320.2m from $491m in the same period last year.