Brownstein Fund Tops Bloomberg Best List with 50% Returns in 2010

Jan 6 2011 | 10:57am ET

Don Brownstein, the philosophy prof turned fund manager, has topped Bloomberg Markets’ 2010 list of the 100 best-performing hedge funds managing $1 billion or more.

Brownstein’s flagship $1.2 billion Structured Servicing Holdings fund returned 50% in the first 10 months of 2010. This follows growth of 135% in 2009. Structured Portfolio Management, the company founded by Brownstein, is based in Stamford, Connecticut and manages a total of $2 billion in five partnerships. His director of portfolio management is William Mok.

Brownstein beat out funds like Ray Dalio’s Bridgewater Associates and Steve Cohen’s SAC Capital International to capture first place in his category.

Brownstein, one of the few who foresaw (and profited from) the subprime mortgage crisis described that crisis to FINalternatives last year—more precisely, he explained how it was linked to the United States’ trade deficit with China. (The subprime mortgage crisis, he said, could have been prevented if Americans had “paid more for their plasma TVs.”)

Brownstein and Mok have not revealed how they scored so big in 2010, but they continue to specialize in mortgage securities.

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