Paulson, Appaloosa, RenTech Up In Feb.

Mar 8 2011 | 2:00pm ET

February was a mixed month for some of the most prominent hedge funds in the business.

First, the good: Paulson & Co., whose gold fund bounced back from its big losses in January to bring itself very near break-even for 2011. The Paulson fund returned 13.24% last month, Institutional Investor reports, after shedding 12% in January. The fund remains down, albeit only slightly, for the year.

Paulson's other funds were much more in line with the average hedge fund, which rose about 1.4% last year. The firm's flagship Advantage fund was up 1.62% (1.87% year-to-date) and its Advantage Plus fund was up 2.25% (2.79% YTD). Paulson's Recovery fund, which bets on an economic rebound, added 3.53% in February (4.46% YTD), while Paulson Partners rose 1.64% (4.01% YTD).

Even better is Appaloosa Management, which has had anything but the mixed year that Paulson has had. The New Jersey firm's eponymous fund is up almost 10%, while its Thoroughbred fund is up almost 8%, through February, II reports.

Renaissance Technologies has been a good deal more middling. The Long Island quantitative giant's Institutional Futures Fund rose 3.16% last month and is up 3.86% on the year, according to Dealbreaker.com

Finally, the bad and the ugly, which is really not all that bad and not terribly ugly. Ping Capital Management, headed by former SAC Capital Advisors star trader Ping Jiang, finally hit a roadbump in February, dropping 0.59%. Still, the fund is up 6.69% this year, following returns of 105% last year and 193% in 2009.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note