Wednesday, 17 December 2014
Last updated 9 hours ago
Feb 8 2012 | 3:50pm ET
It was a middling January for hedge funds, but some of the industry's biggest names managed to do better.
The average hedge fund returned between 1.5% and 2.5% last month, according to industry indices, while the Standard & Poor's 500 Index rose more than 4%. Maverick Capital, Pershing Square Capital Management and Third Point were rather above average.
Pershing Square's fund rose between 6.1% and 6.3% in January. Maverick and Third Point weren't far behind, with the former bouncing back from a 15% drop in 2011 to return 5.89% last month, and Third Point Ultra added 5.8% after a 2.3% dip last year, Reuters reports.
Some smaller funds did even better. Henderson Global Investors' US$116 million European Absolute Return, which lost 42% last year, jumped 14% in January, according to Reuters. Ping Capital, helmed by former SAC Capital Advisors trader Ping Jiang, whose streak of triple-digit returns was broken by last year's 1.8% jump, soared 9.03% in January, Dealbreaker reports. One of last year's top performers, Autonomy America's Global Macro Fund, continued its winning ways, rising 4.7% after last year's 14% jump, Bloomberg News reports.
Other prominent players were in the black, as well. Citadel Investment Group's flagships, Kensington and Wellington, returned 3% last month, while SAC Capital Advisors rose 2%. Appaloosa Management saw returns in the low single digits, Reuters reports, while Renaissance Technologies' Institutional Futures Funds turned in a modest 0.51% return, according to Dealbreaker.
For Fortress Investment Group and Tudor Investment Corp., January was more mixed. The former enjoyed a 3.82% return for its flagship Macro fund and a 2.21% rise for its Asia Macro Fund, as well as returns of 1.63% and 0.53% for its credit funds. But the firm's commodities fund lost 0.43% on the month. Likewise, Tudor's Tensor Fund rose 0.84% in January, according to Dealbreaker, while its Momentum Fund went the other way, dropping 0.4%.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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