Tuesday, 29 July 2014
Last updated 1 hour ago
Sep 8 2011 | 1:52pm ET
Amidst August's hedge fund carnage, some managers were able to produce some impressive returns. Perhaps not surprisingly, some that did are among the biggest and most successful in the industry.
This year, almost no hedge fund has been more successful than Bridgewater Associates. The $122 billion firm's flagship Pure Alpha II fund is up 25.3% this year, Bloomberg News reports.
"Making money is a zero-sum game, so to be successful you have to be willing to stand apart from the crowd," Bridgewater founder Ray Dalio told Bloomberg. "And you have to be right."
Few have been righter than Dalio this year. But one of those few sits just across the Long Island Sound from Bridgewater's Westport, Conn., headquarters. Renaissance Technologies' Institutional Equities Fund is up 25.56% this year, edging Pure Alpha thanks in part to a 5.4% August return. RenTech's Institutional Futures Fund did even better last month, rising 5.89%, according to Dealbreaker.com, but it is only up 7.56% on the year.
MKP Capital Management's flagship Opportunity Fund is another of August's standouts, returning 3.51% last month. The $1.5 billion global macro vehicle is up 8.31% through the first eight months of the year, MarketWatch reports.
Tudor Investment Corp. was no slouch in August, either. Its Momentum Fund rose 2.59% on the month and its Tensor Fund 0.85%, according to Dealbreaker. For the year, however, it has been less lucky. Momentum is up just 3.32% in 2011, while Tensor is down 5.28%.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…