Saturday, 29 November 2014
Last updated 20 hours ago
Dec 11 2012 | 10:26am ET
The news was mostly good last month for some of the most prominent hedge fund managers—performance-wise, anyway.
Citadel Investment Group, SAC Capital Advisors, Moore Capital Management and Winton Capital Management all posted gains last month, Bloomberg News reports. Citadel's Kensington and Wellington funds are up 21% on the year after a 2% November bump, and SAC's International Fund added 1.1% last month and is up 9.6% on the year.
Off the trading floor, SAC had a less-good month, with a former portfolio manager arrested for insider-trading and a Securities and Exchange Commission lawsuit hanging over its head and the head of its founder, Steven Cohen.
It was also a mixed November at Moore, whose flagship Global Investments Fund shed 0.1% last month, but whose Macro Managers added 1.3%. The former fund is up 4.1% on the year, and the latter 5.2%. Winton's Futures Fund added 0.7% last month to cut its 2012 loss to 5.1%, while Pershing Square Capital Management's International Fund gave back some of its gains, losing 1.2% to cut its year-to-date return to 6.2%.
Even hard-hit Paulson & Co. had a few things to smile about. The $19 billion hedge fund's flagship fund is down more than 17%, its Advantage Plus Fund is down 22% and its Gold Fund is down 21%, the latter two after November losses of 6.5% and 12%, respectively. But the firm's Partners Enhanced Fund rose 2.5% last month and is up 12% on the year. It's Credit Opportunities Fund—now its largest—is up 5.6% on the year, after a 0.1% return in November. And its Recovery Fund is clinging to a gain for the year, up 0.2% after losing 2.3% last month.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...