Saturday, 1 November 2014
Last updated 23 hours ago
Sep 3 2010 | 1:16pm ET
August was a lost month for much of the hedge fund industry, but at least three firms didn’t wilt in the summer heat. Bernheim Dreyfus & Co., Lyford Group International and Quantitative Investment Management each posted above-average returns last month, and all boast at least one fund in their stable with stellar returns on the year.
New York-based Lyford’s Global Macro Fund jumped 3.7% last month. The $90 million portfolio is up 8% on the year.
Bernheim, based in Paris, saw its Enhanced Fund jump 2.93% in August to bring its euro-denominated share class to 16.61% on the year. The four-year-old event-driven and merger arbitrage specialist, which manages about US$100 million, credited growing corporate activity in the U.S. for its success this year.
“Growing activity in M&A and corporate activity in the U.S., and soon in Europe, is very interesting to us,” partner Amit Shabi told FINalternatives.
Bernheim’s Diva Synergy Fund also posted above-average returns in August, rising 1.06%. That portfolio is up 5.98% on the year.
Results were much more mixed for QIM. The firm boasted that its flagship Global Program enjoyed its “best month of 2010 in August,” with the $3.9 billion fund rising 1.38% on the month. But it is still down 6.05% on the year—and its three-times levered version is down an estimated 17.29% on the year.
But QIM does have one remarkable success story for 2010: it’s Tactical Aggressive Fund. The $553 million portfolio jumped an estimated 4.57% last month and is up an eye-catching 19.32% through the year’s first eight months.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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