Sunday, 28 December 2014
Last updated 3 days ago
Aug 9 2012 | 1:45pm ET
The second quarter wasn’t kind to some of the most prominent hedge funds in the U.S.
Elliott Management, Baupost Group and York Capital all disappointed during the period. Elliott lamented a “frustrating quarter” which saw its flagship hedge fund fall 0.5%, and Baupost marveled at the “strange world we inhabit.”
That world is “one where economies remain extremely depressed yet almost no companies go bankrupt, while low interest rates encourage holders of capital to speculate,” Baupost wrote. “One where global turmoil mounts while the world passively watches.”
“It would be absurdly funny if it weren’t so incredibly tragic,” it concluded. Baupost’s returns aren’t tragic, simply “nothing to write home about,” with its year-to-date return cut to 1.39%.
Elliott’s first-half return shrank to 4.6%. “Intense price action reportedly forced some firms to unwind trades, further exacerbating underlying price movements,” the firm wrote.
York Capital Management is also lagging the broader markets, with its flagship up between 3.11% and 3.62% on the year. Its event-driven funds are doing much worse, down between 4.47% and 6.46%.
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…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.