Top Hedge Funds Rise In January

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%.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat