Citadel, SAC Lead Hedge Funds' November Winners

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.


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