While many of its peers scuffed about in June, Ping Capital Management enjoyed a bounce-back month.
The New York-based firm, founded by former SAC Capital Advisors trader Ping Jiang, rose 3.47% last month, while the average hedge fund fell about 1.5%. The return pushed the $155 million Exceptional Value Fund up to 11.33% for the first half, Dealbreaker.com reports.
Exceptional Value was up 13.8% through April before dropping 5.6% in May.
Exceptional Value rose 105% last year and 193% in 2009. The firm launched its second hedge fund, an emerging markets macro fund, in January; it returned 4.8% in the first three months of the year.