Tuesday, 22 July 2014
Last updated 19 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.
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…