Tuesday, 29 July 2014
Last updated 7 hours ago
Aug 9 2010 | 11:27am ET
Hedge funds opened the first half with modest gains, but some of the industry’s biggest players did substantially better.
Citadel Investment Group’s flagship hedge funds roared back into the black in July. The Kensington and Wellington funds each rose about 4% on the month, Dow Jones Newswires reports. The funds are now up about 1% on the year.
Kenneth Griffin wasn’t the only hedge fund mogul smiling in July. Lone Pine Capital added 5.5% on the month and is up 2% on the year, while SAC Capital Advisors’ flagship added 3.7% last month, Reuters reports.
Bridgewater Associates’ eponymous fund rose 3.5% in July to bring its year-to-date return to nearly 20%, according to The Wall Street Journal. Ellington Management’s mortgage funds rose 2% in July and are up about 11% on the year. Och-Ziff Capital Management’s flagship added 1.46%.
The (somewhat) rising tide even lifted one perennially-battered boat: Clarium Capital Management, which had been down as much as 10% this year, rose 5% in July, one month after it decided to shut down its New York office and relocate back to the San Francisco Bay Area. And Harbinger Capital Partners, whose flagship dropped nearly 11% in the first two weeks of last month, saw its newly-launched Credit Distressed Blue Line Fund edge up 0.5% on the month.
Of course, where there are winners, there are losers. RAB Capital’s flagship Special Situations Fund hit a serious bump in its road to recovery, plummeting 12.1% in July to leave it down 8.2% on the year. D.E. Shaw Group’s flagship dropped 2.7% on the month, while Brevan Howard Asset Management fell 2.3%.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…