Hedge Funds and CTAs

While most hedge funds surged back into the black in 2009 after a miserable 2008, FX Concepts suffered another tough year. But the world’s largest currency hedge fund has bounced back, posting its best year in four last year.

Here’s one surprise Byron Wien probably didn’t see coming: That his annual list of ten surprises might cost his firm lucrative mandates from three New York City pension funds.

Investors eager to put their money in the hands of Cazenove Capital Management’s Paul Marriage have that opportunity once again.

Less competition from larger hedge funds, increased flows from institutional investors and a banner year for startups are poised to reap new billions for smaller hedge funds, according to a new report.

David Tepper understands that there can be too much of a good thing.

The Appaloosa Management chief has allowed some of his investors to redeem early, prior to the expiration of the Thoroughbred Fund’s three-year lockup. For a fee, of course.

San Francisco-based asset management firm Algert Coldiron Investors has recently launched its second global equity market neutral strategy.

UCITS hedge fund funds were the talk of the town in 2010, but the so-called safe fund structure failed to deliver decent returns last year, and their fund of fund counterparts fared even worse.

Third Point, Greenlight Capital and Och-Ziff Capital Management posted double-digit returns for investors last years, according to reports from each of the firms.

New York-based Third Point, led by Dan Loeb, appears poised to be among the best-performing hedge funds of the year—if not the year best. The firm's Partners fund was up an estimated 41.7% on the year after adding 7.4% last month.

RAB Capital has been hard-pressed for good news in recent years. But the troubled London-based hedge fund manager may well be able to boast the top-performing hedge fund of 2010, according to an early report.

Citadel Investment Group's investment-banking unit continues to hemorrhage top executives at an alarming rate, with three more exits to close out 2010.