Ping Capital Adds 1.97% In July, Up 13.6% YTD

Aug 5 2011 | 12:38pm ET

While many hedge funds stayed down in July, Ping Capital Management continued to build on its double-digit returns for 2011.

The New York-based firm's Exceptional Value Fund added 1.97% last month, its second-straight month in the black while most hedge funds found themselves in the red. Ping, founded by former SAC Capital Advisors trader Ping Jiang, added 3.47% in May.

The fund is now up 13.64% on the year, Dealbreaker.com reports, having all but recovered from its 5.6% May decline, which put a dent in its then -13.8% return through April.

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.


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